ANNOUNCEMENT 06 Oct 2017

In October 2017, the European Investment Bank (EIB) signed a loan agreement with Avio S.p.A. to support its research, development and innovation project concerning space propulsion systems and manufacturing capacity in Italy.

NUMBER OF INTERVENTIONS

1

  • 1 harmful
  • 0 neutral
  • 0 liberalising

SOURCE

The European Investment Bank, Financed Projects, AVIO SPACE PROPULSION SYSTEMS RDI: http://www.eib.org/en/projects/loan/loan/20170472
The European Investment Bank, Project summary, AVIO SPACE PROPULSION SYSTEMS RDI: http://www.eib.org/en/projects/pipelines/pipeline/20170472

Inception date: 06 Oct 2017 | Removal date: open ended
Still in force

State loan

The European Investment Bank (EIB) approved EUR 50 million (approx. USD 58.7 million) in financing to the Italian company Avio S.p.A. On 6 October 2017, a loan agreement between the European Investment Bank (EIB) and Avio S.p.A. was signed having a total value of EUR 40 million. The EIB financing will support the Italian company's research, development and innovation project concerning space propulsion systems as well as modernising and expanding its manufacturing capacity in Italy. The project is to be implemented between 2017 and 2020. On 16 January 2019, the European Investment Bank (EIB) and Avio S.p.A. signed a second loan agreement for the remaining EUR 10 million.

Avio S.p.A. is headquartered in Italy and operates in the aerospace industry with a focus on space propulsion. According to the EIB: "The project is expected to support the growth of the group as well as the development of new products and technologies through RDI activities."

The loans are approved under the Italian Risk-Sharing Initiative for RDI, see related state act.

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.

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