The European Investment Bank (EIB) and Česká spořitelna, a.s. (CSAS) have joined forces in the first risk-sharing operation in the Czech Republic and the whole Central Europe region guaranteed by the European Fund for Strategic Investments (EFSI) in order to provide EUR 100 million in funding to small and medium-sized businesses for climate action and research-related projects.
The loan-by-loan guarantee of EUR 50 million from the EIB will provide 50% credit risk protection on a portfolio of new loans extended by CSAS. The aim of the transaction is to catalyse and/or accelerate new investment primarily in the areas of energy efficiency, small renewable energy sources and innovation.The transaction will benefit from an EU budgetary guarantee under EFSI. The two banks have a solid track record of mutual cooperation dating back to 2002. The EIB has so far provided 11 loans and guarantees in excess of EUR 1.1 billion to CSAS to spur long-term SME and midcap financing in the Czech Republic favourable terms. The EFSI is already expected to trigger financing of around EUR 1.9 billion in the Czech Republic as of January 2017.
EFSI is the central pillar of the European Commission’s Investment Plan for Europe aimed at boosting investment levels across the EU, better known as the "Juncker Plan".
From: Tribuna Economia, 27-03-17
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