ANNOUNCEMENT 30 Nov 2018

In November 2018, the European Investment Bank (EIB) signed a loan agreement with Motork Italia S.r.l. to support its digital automotive business activities. 

NUMBER OF INTERVENTIONS

1

  • 1 harmful
  • 0 neutral
  • 0 liberalising

SOURCE

The European Investment Bank, Financed Projects, MOTORK (EGFF): http://www.eib.org/en/projects/loan/loan/20180214
The European Investment Bank, Project summary, MOTORK (EGFF): http://www.eib.org/en/projects/pipelines/pipeline/20180214

Inception date: 30 Nov 2018 | Removal date: open ended

State loan

The loan agreement between the European Investment Bank (EIB) and Motork Italia S.r.l. was signed on 30 November 2018. The loan has a total value of approximately EUR 30 million (approx. USD 34 million). The loan will support the Italian company's project concerning investments in its "Software as a Service (SaaS) platform and online marketplace" as well as sales and marketing for the period 2018 to 2021. 

Motork Italia S.r.l. has its headquarters in Italy with offices across Europe. The company provides digital solutions to the car industry. According to Motork Italia S.r.l., they are "a trusted partner to more than 90% of car brands in the European marketplace."

According to the EIB: "This project will support the growth of the company and the expansion of its target markets."

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.

AFFECTED SECTORS

 
N/A

AFFECTED PRODUCTS

 
N/A