Date de publication: 2 juillet 2021
Promoteur – Intermédiaire Financier
LUZARO ESTABLECIMIENTO FINANCIERO DE CREDITO SALieu
Description
Dedicated EIB loan for small and medium-sized enterprises (SMEs) and mid-caps to finance small and medium-sized projects in Spain, mainly located in the Basque Country.
Additionality and Impact
The main purpose of this operation is to facilitate vital financial support to EU SMEs and Midcaps, enabling Luzaro to lend additional resources to allow companies to survive under the extreme conditions caused by the Covid-19 crisis.
The deterioration of the economic situation in Spain has been dramatic and unparalleled in its depth and velocity to any recession since the Spanish Civil War and the World War II. According to the National Statistics Institute (INE), gross domestic product fell 11% in 2020. That was more than the economy shrank over the five years during and after the global financial crisis that began in 2008. Moreover, given the Basque Country's strong manufacturing industry, the impact of the Covid-19 crisis has been specially strong as industrial companies faced productions stoppages due to supply chain disruptions and workforce dislocations. This operation allows EIB to partner with a local promotional institution to mitigate the adverse consequences of the pandemic through the provision of much needed liquidity.
In addition, this project eases financial constraints for SMEs and/or MidCaps that arise from information asymmetries caused by the lack of track record for such companies and high screening costs for small investment. By supporting such companies, EIB sends a positive signal to private investors and this incentivizes further financing.
Objectifs
Financing of small/medium projects carried out by small and medium-sized enterprises.
Secteur(s)
- Lignes de crédit - Lignes de crédit
Montant BEI envisagé (montant approximatif)
EUR 50 million
Coût total (montant approximatif)
not applicable
Aspects environnementaux
Final beneficiaries will be requested to comply with applicable national and EU legislation, as appropriate.
Passation des marchés
Final beneficiaries will be requested to comply with applicable national and EU legislation, as appropriate.
Statut
Signé - 22/12/2021
Clause de non-responsabilité
Avant d’être approuvés par le Conseil d’administration et avant la signature des prêts correspondants, les projets font l’objet d’une instruction et de négociations. Par conséquent, les informations et données fournies sur cette page sont indicatives.
Elles sont fournies à des fins de transparence uniquement et ne peuvent être considérées comme représentant la politique officielle de la BEI (voir également les notes explicatives).