ANNOUNCEMENT 28 May 2019

In May 2019, the European Investment Bank (EIB) signed a credit line agreement with Intesa Sanpaolo to support investments carried out by mid-cap companies.

NUMBER OF INTERVENTIONS

1

  • 1 harmful
  • 0 neutral
  • 0 liberalising

SOURCE

The European Investment Bank, Financed Projects, INTESA SANPAOLO MIDCAP LOAN V: https://www.eib.org/en/projects/loans/all/20180289
The European Investment Bank, Project summary, INTESA SANPAOLO MIDCAP LOAN V: https://www.eib.org/en/projects/pipelines/all/20180289
European Investment Bank, SMEs and mid-caps: http://www.eib.org/en/projects/priorities/sme/index.htm

Inception date: 28 May 2019 | Removal date: open ended

State loan

On 28 May 2019, European Investment Bank (EIB) and Intesa Sanpaolo signed a credit line agreement having a total value of EUR 250 million (approx. USD 279.2 million).

The credit line will, through Mediocredito Italiano S.p.A., support investments carried out by mid-cap companies mainly operating in Italy. Mid-caps located in other EU countries are not excluded. Notably, Mediocredito Italiano S.p.A. is fully owned by Intesa Sanpaolo.

According to the EIB, the objective of the loan facility is to: "... enhance access to loan finance to Midcap companies operating in the industry, services, agriculture and tourism sectors to carry out their small/medium-scale investments/projects."

In general, the EIB has made financing of SMEs and mid-cap companies a top priority. In this context, the EIB stated: "In 2018 alone, the EIB Group financed SMEs and mid-caps across the globe to the tune of EUR 23.3 billion (EIB Group)."

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

 
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AFFECTED PRODUCTS

 
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