CITADELE ENHANCED SUPPORT TO SMES AND MID-CAPS

Promoteur – Intermédiaire Financier

AS CITADELE BANKA

Lieu

• Estonie
• Lettonie
• Lituanie

Description

The project concerns a guarantee for an existing portfolio of loans and leases to small and medium-sized enterprises (SMEs) and mid-caps by the EIB Group to support Citadele's lending expansion in the SMEs and mid-caps sector, including a focus on projects with Climate Action content.

Additionality and Impact

By generating additional lending capacity, the proposed operation supports the financing of small and medium scale projects undertaken by SMEs and Mid-Caps in the Baltic countries. As such, it falls under the scope of EU objectives through its contribution to job creation and to increased competitiveness and productivity of SMEs and Mid-Caps. Moreover, at least 20% of the resulting investments are intended for Climate Action & Environmental Sustainability (CA&ES), which will accelerate the green transition of the three Baltic economies. As the funds will be allocated throughout the territory of three Baltic countries, it is estimated that around 85% of the Citadele's lending to the Final Beneficiaries in association with this operation will reach Cohesion regions, thus contributing to the EU Cohesion Objective.

Building on the Intermediary's long-standing experience in the Baltics and EIB's financial contribution in terms of Financial Value Added, it is expected that the allocations will be completed in an efficient and timely manner.

Furthermore, synthetic securitisation is an innovative capital management tool as existing structured finance instruments in the Baltic market are vary scarce. EIB's participation will create a signalling effect that aims crowd-in private sector financial intermediaries thus contributing to the development of the financial market in the Baltics while supporting the CMU objective.

Objectifs

The project concerns a guarantee for SMEs and mid-caps by the EIB Group to support Citadele's lending expansion in the SMEs and mid-caps sector, including a focus on projects with Climate Action content.

Secteur(s)

• Lignes de crédit - Lignes de crédit

Montant BEI envisagé (montant approximatif)

EUR 260 million

Coût total (montant approximatif)

EUR 532 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 - 28/11/2022