Unterzeichnung(en)
Übersicht
- Durchleitungsdarlehen - Durchleitungsdarlehen
The operation consists of multiple beneficiary intermediated loan (MBIL) to on-lend to small and medium-sized enterprises (SMEs) and MidCaps in the agriculture and bioeconomy sectors. At least 30% of the operation will be dedicated to Climate Action & Environmental Sustainability.
The aim is to finance small/medium projects carried out by the final beneficiaries in Greece that are active in the agriculture and bioeconomy sector, including, for part of the operation, financing of green projects and projects of enterprises that are also classified as green.
The operation shall aim to address the constrained access to finance for SMEs and Midcaps that are active in the agriculture and bioeconomy sectors in the Cohesion region Greece, which stems from the market failure of asymmetric information. On top of this, the operation shall aim to contribute to climate action and environmental sustainability, while also contributing to supporting social inclusion by targeting companies that promote youth employment, gender equality and the economic empowerment of women at the workplace.
To achieve this, the operation is intermediated by National Bank of Greece, one of the four systemic banks in Greece and key player in the domestic market that is a repeat EIB counterpart with excellent track record in implementation of EIB loans, including in the areas of financing agriculture and bioeconomy sectors, as well as green investments.
Enhancement of access to finance for final beneficiaries and improvement of financing conditions for them shall be achieved through the transfer of financial advantage deriving from the EIB funding, longer tenor of sub-loans and additional funding mobilised. In turn, improved access to finance shall contribute towards companies' improved viability and competitiveness, also serving to maintain and create new jobs.
Therefore, the EIB's contribution in the project is notable. The financial contribution is based on the long maturity of the EIB loan, whereas the non-financial contribution entails crowding in of other private financiers, as EIB's participation sends a signalling effect to the market by reducing risk perceptions.
The proposed operation falls within the scope of the EIB's Environmental and Social Standards - "Standard 11 Intermediated Finance". The Borrower / 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 will be required to comply with applicable national and EU legislation in respect of environmental and social matters, as appropriate.
Final beneficiaries will be requested to comply with applicable national and EU legislation, as appropriate.