Signature(s)
Summary sheet
- Credit lines - Credit lines
The Multi-Beneficiary Intermediated Loan (MBIL) will support eligible investments carried out by small and medium sized enterprises (SMEs) and mid-caps in Italy.
The aim is to enhance access to finance to the target beneficiaries carrying out projects fulfilling three targets: (i) at least 30% should finance projects that benefit refugees; (ii) at least 30% should finance projects that improve gender equality; (iii) at least 30% of the sub-projects should be located in cohesion regions.
The operation eases financial constraints for SMEs and Mid-Caps in Italy and is expected to also support gender equality as well as those final beneficiaries that ultimately support refugees, to live in dignity in reception centres and/or integrate to the host communities through employment and entrepreneurship. It will also strengthen EU's economic, social and territorial cohesion. The operation addresses the failure in financial markets for SMEs and Mid-Caps arising from limited access and/or high cost of financing charged by creditors as a result of information asymmetries, lack of collateral and imperfect screening and monitoring. The operation is expected to also generate positive externalities benefitting the society at large and the broader economy through supporting gender equality, refugees and cohesion regions. Through an intermediated approach, the Bank will provide financing with favourable terms to final beneficiaries which could not be reached otherwise and give a strong signal to the market for availability of financing for social projects. Additionally, since it's the first operation with Banca Etica, with a focus on refugees, gender equality and cohesion regions, the intermediary will also be offered non-financial support throughout implementation to deal with the specificities of the operation.
Final beneficiaries will be requested to comply with applicable national and EU legislation, as appropriate.
Final beneficiaries will be requested to comply with applicable national and EU legislation, as appropriate.
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).
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