European bank forInvestments (EIB)

Financing of the european investment bank

The european investment bank (EIB) was granted in 2014 to spain a loan for support investment projects undertaken by small and medium-sized enterprises (Smes) and of small- and medium-sized capitalization (companies with fewer than 3,000 workers).

El CDTI destinó el importe de este préstamo a la cofinanciación de más de 1.700 operaciones relativas a proyectos de I+D+i en el período 2014-2018.

European cooperation in support of smes

The eib is the bank of long-term financing of the european Union. Its aim is to contribute to the integration, balanced development and the economic and social cohesion of the states members of the european Union. Thanks to its great location in the capital markets (AAA), the eib can obtain finance in exceptional conditions, which then transferred to smes and companies of medium-sized capitalization. You can find detailed information on the financing of the eib on its website (http://www.eib.org/).

What is the eib funding?

The eib funding was earmarked for loans granted by the CDTI for r & D projects with a minimum period of two years. Funds from the EIB could be used to finance projects to small-scale investments with a maximum cost eur 25 million (not being able to overcome the contribution of the eib to 12.5 million euros).

Were susceptible of eligibility loans requested by:

• Independent smes, with fewer than 250 employees before investing, and established in one of the 28 member states of the european union;
• Medium-sized enterprises with less independent capitalization 3,000 employees before the investment, and established in one of the 28 member states of the european union;
• Almost all economic sectors were eligible with some exceptions, which included the production of weapons, weapons or ammunition; the facilities or military or police infrastructure and the material and infrastructure designed to limit individual rights or freedom of individuals; gambling; related industries; tobacco activities involving the use of live animals for experimental purposes or scientists - to the extent that flout the "european convention for the protection of the vertebrate animals used for experimental purposes or other scientific purposes" of the council of europe; the activities and their impact on the environment could not be mitigated or compensated; controversial activities for reasons of moral or Ethical (for example, research in the field of human cloning); or activities whose sole purpose was the real estate speculation.

Advantages for the company

The lines of financing of r & D projects of CDTI articulated through the EIB lending provided the following advantages:

• Possibility of receiving interest rates on advantageous to the regular in financial entities.
• Possibility of maturities loan of more than those provided by financial entities.
• A reversal of the company without their liquidity or cash flow would be negatively affected.

The enterprise should undertake to:

1. Allow representatives of the eib inspect its places, facilities and work within the project was set aside the loan.
2. To authorize the sending of information on the company the eib, by the CDTI.

The contracts of loans granted by CDTI with eib funding included specific obligations for the company arising from this cofinancing.

More information:info@cdti.es