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    Signature(s)

    Amount
    € 8,500,000
    Countries
    Sector(s)
    Greece : € 8,500,000
    Industry : € 8,500,000
    Signature date(s)
    9/12/2021 : € 8,500,000
    Link to source

    Summary sheet

    Release date
    28 September 2021
    Status
    Reference
    Signed | 09/12/2021
    20200461
    Project name
    Promoter - financial intermediary
    MATRIX PACK (EGF VD)
    MATRIX PACK SA
    Proposed EIB finance (Approximate amount)
    Total cost (Approximate amount)
    EUR 8 million
    EUR 18 million
    Location
    Sector(s)
    Description
    Objectives

    The project will consist of financing (i) new machines for the production of paper straws to replace plastic, non-renewable ones, (ii) ancillary equipment and (iii) related research, development and innovation (RDI) activities.

    The objectives of the EIB financing are to support the company in mitigating the impact of the COVID-19 pandemic and to execute its growth investments mainly in research and development (R&D) and commercial expansion.

    Additionality and Impact

    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 investments, especially in the rural areas and the bioeconomy sectors. By supporting such companies, EIB sends a positive signal to private investors and thus incentivizes further financing in the wider bioeconomy.
    This project addresses the failure in financial markets for SMEs and/ or midcaps arising from limited access and/or high cost of financing charged by creditors/ investors as a result of information asymmetries, lack of collateral and imperfect screening and monitoring.
    The project generates positive externalities in the form of environmental and public health benefits through reduction of the negative externalities of using fossil fuel based raw materials (i.e. plastics), replaced by the new enhanced renewable materials (i.e. paper).

    Environmental aspects
    Procurement

    The project activities do not fall under the Annexes I or II of the EU Directive2014/52/EU amending the EIA Directive 2011/92/EU. The project will be carried out in existing facilities, already authorised, that will not change their scope due to the project. As such, the project activities are not subject to a mandatory environmental impact assessment (EIA).

    The Promoter is a private company not operating in the utilities sector and not having the status of a contracting entity, and is thus not subject to EU rules on public procurement. Under these conditions, the procurement procedures followed by the Promoter are suitable for the project.

    Link to source
    Summary sheet

    Disclaimer

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

    Documents

    Environmental and Social Data Sheet (ESDS) - MATRIX PACK (EGF VD)
    Publication Date
    10 Nov 2021
    Document language
    Main Topic
    Lending
    Document Number
    130965632
    Document Focus
    Environmental Information
    Project Number
    20200461
    Sector(s)
    Regions
    Countries
    Publicly available
    Download now

    News & Stories

    General enquiries and comments

    The EIB is committed to open communication and encourages constructive stakeholder input regarding its activities.
    Enquiries and comments concerning the EIB’s involvement in a project or the financing facilities, activities, organisation and objectives of the EIB, can be sent to the EIB Infodesk.
    Alternatively, the EIB can be contacted through its external offices.
    Queries regarding details of a specific project, in particular when it is under appraisal by the EIB, should preferably be addressed directly to project promoters.

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    Media-related enquiries can be addressed to the EIB Press Office. Please also visit our Media information section.

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    Any complaint regarding alleged maladministration can be lodged via the EIB Complaints Mechanism. The European Ombudsman acts as an independent external accountability mechanism of the EIB.

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    The EIB has a zero tolerance policy on fraud or corruption. To report allegations of fraud and corruption relating to EIB-financed projects, please contact the Fraud and Investigation division. All complaints will be treated as strictly confidential and handled in line with the EIB investigation procedures and the Anti-Fraud Policy.

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