ANNOUNCEMENT 29 Sep 2013

On 29 September 2013, the EIB provided financing worth EUR 60 million (USD 80 million).

NUMBER OF INTERVENTIONS

1

  • 1 harmful
  • 0 neutral
  • 0 liberalising
Inception date: 29 Sep 2013 | Removal date: open ended

State loan

On 29 September 2013, the European Investment Bank (EIB) and Nuevo Micro Bank SA signed an agreement worth EUR 60 million (approx. USD 80 million) for the project Microbank Loan for Micro Finance Initiatives from Spain.

According to the project description issued by the EIB, Dedicated EIB facility for micro loans in Spain to MicroBank, the Social Bank of CaixaBank Group, specialised in micro-finance. The micro loans will be extended to small SMEs and entrepreneurs with the objective to promote predominantly youth employment by financing young self employed and start-ups promoted by young entrepreneurs..

The objective of the project is defined as following: Improving access to term finance at favourable conditions..

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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