ANNOUNCEMENT 07 Dec 2018

On 07 December 2018, the EIB provided financing worth EUR 54 million (USD 61 million).

NUMBER OF INTERVENTIONS

2

  • 2 harmful
  • 0 neutral
  • 0 liberalising
Inception date: 07 Dec 2018 | Removal date: open ended

Loan guarantee

The EIBs EUR 54 million (approx. USD 61 million) loan with Alior Bank SA signed on 07 December 2018 was backed by a guarantee from the European Fund for Strategic Investments (EFSI).

The EFSI is a joint initiative by the EIB and the European Commission to promote investment in Europe, acting as the main pillar of the Investment Plan for Europe. It provides first-loss guarantees enabling the EIB to invest in more and often riskier projects. The loan described above was issued under the EFSI and thus benefits from a full guarantee through the EU budget.

EFSI support does not fall under EU State Aid rules as it is meant as a tool to address 'market failures or sub-optimal investment situations'. However, the investment support does include favourable conditions in the form of public assumption of risk.

AFFECTED SECTORS

 
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AFFECTED PRODUCTS

 
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Inception date: 07 Dec 2018 | Removal date: open ended

State loan

On 07 December 2018, the European Investment Bank (EIB) and Alior Bank SA signed an agreement worth EUR 54 million (approx. USD 61 million) for the project Alior Mezzanine Abs for SMEs and Mid-Caps from Poland. The total cost of the project is estimated at EUR 423 million.

According to the project description issued by the EIB, A guarantee to a mezzanine tranche of a synthetic securitization transaction (corporate loans portfolio), aimed at supporting the financing of new loans to SMEs and Mid-Caps..

The objective of the project is defined as following: The objective is to enhance access to finance for SMEs and Midcaps..

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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