ANNOUNCEMENT 28 May 2019

In May 2019, the European Investment Bank (EIB) signed a credit line agreement with Intesa Sanpaolo SPA to support Circular Economy projects carried out by small and medium-sized enterprises (SMEs) and mid-cap companies.

NUMBER OF INTERVENTIONS

1

  • 1 harmful
  • 0 neutral
  • 0 liberalising

SOURCE

The European Investment Bank, Financed Projects, ISP LOAN FOR CIRCULAR ECONOMY: https://www.eib.org/en/projects/loans/all/20180715
The European Investment Bank, Project summary, ISP LOAN FOR CIRCULAR ECONOMY: https://www.eib.org/en/projects/pipelines/all/20180715
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 SPA signed a credit line agreement having a total value of EUR 250 million (approx. USD 279.2 million).

The credit line will, through Intesa Sanpaolo, support Circular Economy projects carried out by Italian small and medium-sized enterprises (SMEs) and mid-cap companies.

According to the EIB, such projects include projects: "striving to preserve the value of products and materials as long as possible, and minimise resource use and waste generation." Projects can be carried out in a number of sectors including in industrial manufacturing, energy and food industry as well as other consumer goods. Additionally, such projects can also be carried out by companies with "circular business models, ranging from resource recovery to product-to-service and leasing/sharing models." 

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.

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