Programme description
Main objectives
The objective of the SME Initiative in Spain is to contribute to reduce the financial gap for small and medium-sized enterprises (SMEs). According to the ex-ante assessment by European Investment bank (EIB), the estimated interval for SME loan financing gap (2011-2012) is EUR 6 billion – 26.4 billion.
Spain shall use this EUR 800 million to provide a financial contribution to an EU financial instrument managed indirectly by the European Investment Bank (EIB) group in order to facilitate the following:
- uncapped guarantees providing capital relief to financial intermediaries for new portfolios of debt finance to eligible SMEs and/or
- securitisation of: a) existing portfolios of debt finance to SMEs and other enterprises with less than 500 employees and b) new portfolios of debt finance to SMEs.
ERDF funding will be combined with a small amount of funding from the EU instrument 'Horizon 2020' managed by the Directorate-General for Internal Market, Industry, Entrepreneurship and SMEs of the European Commission and with senior risk coverage by the EIB group.
Funding priorities
The Programme will focus on one single priority "Enhancing the competitiveness of SMEs” in Spain.
Expected results
The expected mobilised credits amount to a figure between EUR 3.2 billion and EUR 4 billion with a minimum estimated leverage effect of 4 times the EU investment.
Programme text
PO Plurirregional de la Iniciativa PYME
Funds
Regional Development Fund (ERDF): 734.965.961,00 €
Thematic priorities
View the dataFinancial information
Total OP budget: 734.965.961,00 €
Total EU contribution: 734.965.961,00 €
View the data