ANNOUNCEMENT 07 Apr 2017

On 7 April 2017, the European Investment Bank (EIB) announced support for FASSA BORTOLO Group as part of the European Fund for Strategic Investments (EFSI).

NUMBER OF INTERVENTIONS

2

  • 2 harmful
  • 0 neutral
  • 0 liberalising

SOURCE

EFSI Information Sheet about the project. Available at
http://www.eib.org/projects/pipelines/pipeline/20160904

European Commission (20 July 2015): The Investment Plan for Europe: Questions and Answers. Available at
http://europa.eu/rapid/press-release_MEMO-15-5419_en.htm

EIB: European Fund for Strategic Investments - Questions and Answers. Available at http://www.eib.org/attachments/press/investment_plan_for_europe_qa_en.pdf"

Inception date: 07 Apr 2017 | Removal date: open ended
Still in force

State loan

The EIB will provide a 40 million EUR loan to support FASSA BORTOLO's project to develop innovative building materials to serve the construction sector, allowing for improved energy efficiency of refurbished and new buildings as well as improved construction.

 
 

AFFECTED SECTORS

 
Inception date: 07 Apr 2017 | Removal date: open ended
Still in force

Loan guarantee

The EIB loan with a value of EUR 40 million will be guaranteed by the EFSI.

EFSI support does not fall under EU State Aid rules as it is meant as a tool to address "market failures or sub-optimal investment situations". However, the investment support does include favourable conditions in the form of public assumption of risk.

As described in the European Commission's Fact Sheet from 20 July 2015: "The type of risk-financing instruments will be designed so as to take uncertainty out ("first loss protection") of as such viable projects and therefore crowd-in private sector investments. Since the EFSI will take riskier tranches in investment projects, the private sector will be able to join under more favourable conditions." Furthermore, the EIB states that "The new initiative [i.e. the EFSI] will benefit from the EIB’s strong credit standing that enables funding at favourable conditions and across maturities".

A state measure in the GTA database is assessed solely in terms of the extent to which its implementation affects foreign commercial interests. On this metric, the investment support proposed here is discriminatory.