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The Lending Envelope (LE) will enable new investments in the security and defence industry across Europe. The LE consists of sub-operations in the form of intermediated finance products, specifically Multi-Beneficiary Intermediated Loans (MBILs) and Supply Chain Finance Risk Sharing product with acceptable Financial Intermediaries.
The aim of the Lending Envelope is to support the European security and defence industry, along with its supply chain, by facilitating access to bank loans for small and medium-sized enterprises (SMEs) and mid-caps in the sector. Additionally, it provides guarantees to financial intermediaries under the Supply Chain Finance Risk Sharing product. This product specifically covers the outstanding risk exposure associated with trade payables issued by suppliers of a Buyer operating in the defence sector, ensuring those payables are settled by the Buyer. The sub-operations will involve European defence companies and their EU-based suppliers carrying out projects/investments in the EU. Weapons and ammunitions, including explosives and sporting weapons, at the level of the final beneficiary and the project / investment will be not eligible for EIB financing.
Sub-projects will fall within the scope of the EIB's Environmental and Social Standards - "Standard 11 Intermediated Finance". The Financial Intermediary has adequate capacity, systems and processes in place for identifying, assessing, managing and monitoring environmental, climate and social (ECS) risks related to the potential sub-projects benefitting from EIB support. The Final Beneficiaries under the bank intermediated financing and the defense companies (the Buyers) under the supply chain finance guarantee product will be required to comply with applicable national and EU legislation in respect of environmental and social matters, as appropriate.
Sub-projects needs to comply with the EU acquis and the EIB will require the Financial Intermediary to take all the requisite measures to ensure that the procurement procedures carried out by the Final Beneficiaries under the the bank intermediated financing and the defense companies (the Buyers) under the supply chain finance guarantee product will comply with applicable national and EU legislation, as appropriate.