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    Référence: 20200704
    Date de publication: 9 novembre 2020

    Promoteur – Intermédiaire Financier

    CAIXA GERAL DE DEPOSITOS SA

    Lieu

    Description

    The proposed operation concerns a guarantee scheme under EGF in Portugal (other EGF participating member states not excluded), which will support the financing of mid-caps and large corporates in sectors that have been affected by the COVID-19 pandemic and that are in line with the EIB's long-term mission (innovation, environment and indirect SME support), as well as of public sector entities and other entities operating in the health sector.

    Additionality and Impact

    Linked risk sharing operation under the Pan-European Guarantee Fund (EGF), aiming to alleviate the market disruption caused by the severe Covid-19 crisis in Portugal. The project will provide support to a wide range of Portuguese entities, to ensure they can access sufficient liquidity and finance to weather the Covid-19 crisis, as well as to continue their development in the medium-long term. Liquidity needs are urgent and expected to become even more pressing for many companies whose operations are disrupted by renewed lockdown periods coming into force in many parts of Europe, including Portugal. In addition to addressing liquidity requirements, the project will help in the preservation and creation of employment. The operation will be implemented by the largest bank in Portugal, Caixa Geral de Depósitos, S.A. (CGD), which has in-depth knowledge of the market and a solid track record with implementing EIB Group guarantee and funding products. The EIB's contribution also rests on introducing an innovative product to the market, as this is the first Linked Risk Sharing transaction under the EGF with a commercial bank in Portugal, and sending a signal on the scheme's viability that could help crowd in other financiers to unlock further financing in favor of the beneficiaries.

    Objectifs

    Linked risk-sharing operation under the European Guarantee Fund (EGF) for mid-caps and other eligible entities in Portugal, aiming to mobilise funding resources to respond to the economic impact of the COVID-19 pandemic. The supported final recipients are considered to: (i) be viable in the long-term; (ii) meet the lender's requirements for commercial financing, were it not for the economic impact of the COVID-19 pandemic. In line with the EGF, this is a limited-time intervention.

    Secteur(s)

    Montant BEI envisagé (montant approximatif)

    EUR 112 million

    Coût total (montant approximatif)

    EUR 368 million

    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 - 31/05/2021

    Clause de non-responsabilité

    Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The data provided on this page is therefore indicative and cannot be considered to represent official EIB policy (see also the Explanatory notes).

    Mots-clés correspondants

    Portugal Lignes de crédit