CDP CLIMATE CHANGE IP - MCI (EIB-20170301)

Countries
  • Italy
Where the impacts of the investment may be experienced.
Financial Institutions
  • European Investment Bank (EIB)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Proposed
Bank Risk Rating
U
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Borrower
MEDIOCREDITO ITALIANO SPA
The holder of the loan, grant, or other investment.
Sectors
  • Energy
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 162.69 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Currency conversion note:
Bank reported EUR 140 million
Converted using 2018-07-18 exchange rate.
Project Cost (USD)
$ 464.90 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Currency conversion note:
Bank reported EUR 400 million
Converted using 2018-07-18 exchange rate.
Primary Source

Original disclosure @ EIB website

Updated in EWS Jan 31, 2019

Disclosed by Bank Jul 9, 2018


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Project Description

The project is operated by the "Cassa Depositi e Prestiti (CDP) Climate Change Investment Platform (IP), which is a linked unfunded partial delegation risk-sharing instrument for an amount of up to EUR 140m. It will cover a pari-passu basis, along with CDP (the Italian National Promotional Bank), up to 50% of the credit risk associated with a new portfolio of loans originated by Mediocredito Italiano (MCI) part of the Intesa SanPaolo Group.

Such loans provided by Mediocredito Italiano will finance medium-sized projects in the field of energy efficiency, renewable energy, and environmental protection, in line with EU objectives. The operation also contributes to meeting Italy's renewable energy (RE) and energy efficiency (EE) objectives and will actively support the transition to a circular economy. 

MCI will be required to ensure that procurement procedures applied to all projects under the operation will comply with the relevant national legislation and EU Procurement Directives, as appropriate.

Investment Description
  • European Investment Bank (EIB)
Contact Information

*There is no further project information available by this stage of the project*

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