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Programme loan to finance investments of eligible mid-caps and, to a lesser extent, small and medium-sized enterprises (SMEs) with high financing needs, with focus on innovative and high value-added projects mainly in Italy.
This programme loan will improve competitiveness and access to finance at favourable conditions for SMEs, mid-caps.
The projects is an umbrella instrument "Programme Loan" which will allow to finance investments by innovative MidCaps and SMEs, leading to new knowledge creation, wider innovation development and deployment, positive social and environmental effects, growth and employment opportunities creation. They contribute to the EIB's Innovation and SME policy objectives, and partly to its Economic and Social Cohesion and Climate Action and Environmental Sustainability policy objectives. This umbrella instrument therefore addresses market weaknesses (e.g. by allowing, competitive prices, longer maturities and more flexibility of drawdowns) and failures constraining the availability of financing for SMEs and MidCaps, those associated with imperfect competition and incomplete markets for innovative and still market-entry stage technologies, and those associated with projects generating positive knowledge, environmental and safety externalities. The investments will contribute to the promoters' sustainable long term profitability, will add to the social welfare by bringing about wider economic and social benefits and will be implemented by promoters with good track record and experienced management, capable to deliver sound projects integrating relevant positive environmental and social dimensions and thus contributing to address and mitigate the identified market failures.
EIB's involvement is expected to generate positive effects, mainly in terms of availability of long-term funding, at favourable rates and allowing diversification of sources of funds.
The Bank will require that projects financed under this operation comply with domestic and EU applicable legislation, as appropriate.
The Bank will require that projects financed under this operation comply with domestic and EU applicable legislation, where applicable.