ANNOUNCEMENT 07 Nov 2018

In November 2018, the European Investment Bank (EIB) signed a loan agreement with Gruppo Villa Maria Spa to support its 2017-2020 investments in healthcare infrastructure and medical equipment in Italy and France. The loan will be guaranteed by the European Fund for Strategic Investment (EFSI).

NUMBER OF INTERVENTIONS

2

  • 2 harmful
  • 0 neutral
  • 0 liberalising

SOURCE

The European Investment Bank, Financed Projects, GVM - MEDICAL CARE: http://www.eib.org/en/projects/loan/loan/20170617
The European Investment Bank, Project summary, Project No. GVM - MEDICAL CARE: http://www.eib.org/en/projects/pipelines/pipeline/20170617
The European Investment Bank, EFSI scoreboard: http://www.eib.org/attachments/scoreboards/86322539.pdf
Gruppo Villa Maria Spa: https://www.gvmspa.it/en-US/the-group/about-us
European Commission (13 January 2015): The Investment Plan for Europe: Questions and Answers: http://europa.eu/rapid/press-release_MEMO-15-3223_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 Nov 2018 | Removal date: 11 Jun 2021

State loan

The loan agreement between the European Investment Bank (EIB) and Gruppo Villa Maria Spa was signed on 7 November 2018 and has a total value of EUR 70 million (approx. USD 80 million).

The loan will support the company's investment plan consisting of three main areas. Firstly, the construction of two new hospitals, one in Italy and the other in France. Secondly, the extension of three facilities in Italy. Lastly, three research projects in Italy concerning infrastructure and equipment research and software platform development for clinical data-management among others.

Gruppo Villa Maria Spa is a private healthcare service provider. The company has its headquarters in Italy and is additionally presented in France, Albania and Poland.

A state act 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 granted here is discriminatory. 

Update

On 11 June 2021, the EIB approved a second to Gruppo Villa Maria Spa, extending the overall support granted (see related state act). 

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Inception date: 07 Nov 2018 | Removal date: open ended

Loan guarantee

The loan agreement signed on 7 November 2018 between the European Investment Bank (EIB) and Gruppo Villa Maria Spa will be guaranteed by the European Fund for Strategic Investment (EFSI). The loan has a total value of EUR 70 million (approx. USD 80 million).

Gruppo Villa Maria Spa is a private healthcare service provider. The company has its headquarters in Italy and is additionally presented in France, Albania and Poland.

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 13 January 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".

 
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