ANNOUNCEMENT 06 Aug 2020

In August 2020, the European Investment Bank (EIB) and UniCredit signed a EUR 200 million (approx. USD 237.5 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. UC COVID-19 RESPONSE FOR SMES & MIDCAPS. 06/08/2020. Available at: https://www.eib.org/en/projects/loans/all/20200269

European Investment Bank. Projects to be financed. UC COVID-19 RESPONSE FOR SMES & MIDCAPS. 29/04/2020. Available at: https://www.eib.org/en/projects/pipelines/all/20200269

European Investment Bank. Press Release. “Italy: UniCredit and EIB - €200 million to support SMEs and mid-caps through the COVID-19 emergency”. 07/09/2020. Available at: https://www.eib.org/en/press/all/2020-262-eu-backs-mmi-s-robotic-system-for-microsurgery

UniCredit. About us. Available at: https://www.unicredit.it/en/about_us.html

Inception date: 06 Aug 2020 | Removal date: open ended

State loan

On 6 August 2020, the European Investment Bank (EIB) and UniCredit signed a EUR 200 million (approx. USD 237.5 million) loan to provide lending options to SMEs and mid-caps in Italy in order to counter the impact of the COVID-19 pandemic.

The measure aims to support the working capital and liquidity needs of SMEs and mid-caps. 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).

UniCredit is a Pan European bank, based in Italy, that provides corporate, investment, commercial and wealth management services. According to the press release, “in the last five years, UniCredit has channeled about €5 billion in EIB funding to Italian companies, financing more than 4 000 projects”.

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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