CREVAL LOAN FOR SMES & MIDCAPS (EIB-20180254)

Regions
  • Europe and Central Asia
Where the impacts of the investment may be experienced.
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
Approved
Bank Risk Rating
FI
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.
Voting Date
Jul 26, 2018
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
BANCA PICCOLO CREDITO VALTELLINESE SPA
The holder of the loan, grant, or other investment.
Sectors
  • Finance
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)
$ 349.31 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 300 million
Converted using 2018-07-26 exchange rate.
Loan Amount (USD)
$ 349.31 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 300 million
Converted using 2018-07-26 exchange rate.
Primary Source

Original disclosure @ EIB website

Updated in EWS Sep 25, 2018

Disclosed by Bank Apr 23, 2018


Contribute Information
Can you contribute information about this project?
Contact the EWS Team

Project Description

According to EIB website, the project consists of a dedicated EIB Loan to finance small and medium-sized entreprises (SMEs) and mid-caps in the industrial, services, tourism and agricultural sectors via long-term loans in Italy. The EIB will invest in two tranches of a Creval granular SME and mid-cap portfolio in order to support new lending to SMEs and mid-caps in Italy. It aims to improve competitiveness and access to finance at favourable conditions for SMEs and mid-Caps in Italy.

Investment Description
  • European Investment Bank (EIB)
Private Actors

Credito Valtellinese Società Cooperativa, together with its subsidiaries, provides various banking services to families, trades, professionals, and small and medium-sized companies in Italy. The company operates in three segments: Market, Specialised Company, and Corporate Centre.

Contact Information

Contact information not provided at the time of disclosure. 

ACCOUNTABILITY MECHANISM OF EIB

The EIB Complaints Mechanism is designed to facilitate and handle complaints against the EIB by individuals, organizations or corporations affected by EIB activities. When exercising the right to lodge a complaint against the EIB, any member of the public has access to a two-tier procedure, one internal - the Complaints Mechanism Office - and one external - the European Ombudsman. A complaint can be lodged via a written communication addressed to the Secretary General of the EIB, via email to the dedicated email address complaints@eib.org, by completing the online complaint form available at the following address: http://www.eib.org/complaints/form, via fax or delivered directly to the EIB Complaints Mechanism Division, any EIB local representation office or any EIB staff. For further details, check: http://www.eib.org/attachments/strategies/complaints_mechanism_policy_en.pdf

When dissatisfied with a complaint to the EIB Complaints Mechanism, citizens can then turn towards the European Ombudsman. A memorandum of Understanding has been signed between the EIB and the European Ombudsman establishes that citizens (even outside of the EU if the Ombudsman finds their complaint justified) can turn towards the Ombudsman on issues related to 'maladministration' by the EIB. Note that before going to the Ombudsman, an attempt must be made to resolve the case by contacting the EIB. In addition, the complaint must be made within two years of the date when the facts on which your complaint is based became known to you. You can write to the Ombudsman in any of the languages of the European Union. Additional details, including filing requirements and complaint forms, are available at: http://www.ombudsman.europa.eu/atyourservice/interactiveguide.faces