Signature(s)
Summary sheet
- Credit lines - Credit lines
The operation will finance the reconstruction following the severe floods in Austria, as well as preventive measures to enhance flood resilience against future floods, of small and medium-sized enterprises (SMEs), mid-caps and public sector entities (PSEs).
The aim is to finance small/medium projects carried out by the final beneficiaries.
This MBIL will be the second project under the Floods Emergency Recovery and Resilience Lending Envelope (Serapis 2024-0662) and it will finance preventive measures to enhance flood resilience against future floods, as well as reconstruction works following the severe flood events in Austria in September 2024.
The operation will contribute to EU and national policy objectives, and the intervention will thus generate positive environmental externalities and increase resilience against future climate shocks, particularly floodings. The operation foresees that 75% of the investment volume will be dedicated to Climate Action projects, and more particularly Climate Adaptation.
The Promoter will use the funding to provide loans in favour of PSEs, SMEs and MidCaps which will help them to access finance in a difficult economic environment.
The EIB's financial contribution includes the possibility of flexible drawdowns, long grace periods and fixed interest rate periods, as well as no requirements for complementarity. In terms of non-financial contribution, the EIB will support the intermediary in building and strengthening its capacity to finance climate adaptation projects.
The proposed operation falls within the scope of the EIB's Environmental and Social Standards - "Standard 11 Intermediated Finance" procedures. A detailed assessment of the Promoter's E&S procedures and capacity acc. to the Standard 11 standards still needs to be carried out.
Final beneficiaries will be requested to comply with applicable national and EU legislation, as appropriate.