ANNOUNCEMENT 12 Aug 2020

In August 2020, the European Investment Bank (EIB) and Intensa Sanpaolo signed a EUR 500 million (approx. USD 589.7 million) loan to support SMEs and mid-caps in Italy in the context of the COVID-19 pandemic.

NUMBER OF INTERVENTIONS

1

  • 1 harmful
  • 0 neutral
  • 0 liberalising

SOURCE

European Investment Bank. Financed Projects. INTESA SANPAOLO COVID19 LOAN FOR SMES & MIDCAPS. 12/08/2020. Available at: https://www.eib.org/en/projects/loans/all/20200265

European Investment Bank. Projects to be financed. INTESA SANPAOLO COVID19 LOAN FOR SMES & MIDCAPS. 28/05/2020. Available at: https://www.eib.org/en/projects/pipelines/all/20200265

Intensa Sanpoaolo. About us. Available at: https://group.intesasanpaolo.com/en/about-us

Inception date: 12 Aug 2020 | Removal date: open ended

State loan

On 12 August 2020, the European Investment Bank (EIB) provided and Intensa Sanpaolo Bank signed a EUR 500 million (approx. USD 589.7 million) loan agreement to support SMEs and mid-caps in Italy that were affected by the COVID-19 pandemic.

The objective of the loan is to enhance access to finance, by providing a credit line, to the target beneficiaries. The tool to mitigate the negative economic impacts of the COVID-19 pandemic aims to cover working capital and liquidity needs. There are no restrictions in terms of the economic sector, as long as the final beneficiaries comply with relevant national and EU legislation (particularly in terms of SMEs and midcaps classification).

Intesa Sanpaolo is an Italian leading bank in all business areas (retail, corporate, and wealth management). With a market capitalization of EUR 31.1 billion as of 30 September 2020, it offers its services to 11.8 million customers through a network of approximately 3 700 branches.

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 financing support granted here is discriminatory.

AFFECTED SECTORS

 
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AFFECTED PRODUCTS

 
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