Date de publication: 12 novembre 2020
Promoteur – Intermédiaire Financier
BANCA MARCH SALieu
Description
Operation under the European Guarantee Fund (EGF) to support Spanish mid-caps and large corporates in sectors that are in line with the EIB's long-term mission (innovation, environment and indirect support for small and medium-sized enterprises (SMEs)) affected by the COVID-19 pandemic. The operation falls under the EGF - EU PL RISK SHARING INSTRUMENT (2020-0618) Programme Loan.
Objectifs
The project consists of an unfunded risk participation scheme under a full delegation approach by which the EIB will cover up to 75% of the losses with respect to each defaulted loan of a non-granular portfolio of corporate and mid-cap loans. While access to finance had somewhat improved since the financial crisis, it has become a critical issue again as a result of the COVID-19 crisis, due to both rapid demand and rising constraints on the side of intermediary banks. These constraints are idiosyncratic and only partly addressed, e.g. through measures of the ECB, which is providing unprecedented amounts of liquidity support in euro-area countries. A pressing constraint for financial intermediaries is lending capacity, particularly as the economic crisis will lead to substantial downgrades in their existing lending books and corresponding increases in their minimum capital requirements. This leads to a vicious circle of a pro-cyclical shift of remaining lending capacity into "lower-risk" assets, which was a main contributor to the last financial crisis. Therefore, the objective of the operation is to provide liquidity and financing for projects to mid-size and large companies within the context of the COVID-19 pandemic.
Commentaires
N/A
Secteur(s)
- Lignes de crédit - Lignes de crédit
Montant BEI envisagé (montant approximatif)
EUR 200 million
Coût total (montant approximatif)
EUR 653 million
Aspects environnementaux
N/A
Passation des marchés
N/A
Statut
Signé - 23/12/2020
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).