Horizon Innovation Financing Facility

Overview
Project Summary Document
Environmental and Social Documentation
Procurement
Complaints

Project ID 48626

Status Cancelled

Location

Romania

Business Sector

Financial Institutions

Notice Type

Private

Sub-projects

Project ID 48626

Status Cancelled

Location

Romania

Business Sector

Financial Institutions

Notice Type

Private

Environmental Category

Approval Date

11 Dec 2019

Disclosure date

06 Nov 2019

As per section 1.4.2 (iii) of the Directive on Access to Information: "For Projects approved by Bank management where the Board of Directors has delegated the approval authority, the PSD shall be disclosed at the start of the relevant no-objection notification period to a member country of the Bank in accordance with Article 13 (iii) of the Agreement Establishing the EBRD."

Project Description

Establishment of Horizon Innovation Financing Facility, a framework for providing senior loans to participating financial institutions ("PFIs") in Romania for on-lending to micro, small or medium-sized enterprises ("SMEs") and smaller medium-sized enterprises ("small mid-caps") that are innovative or investing in innovative projects in Romania. The framework benefits from grant funding from the European Union.

Project Objectives

The ultimate objective of the framework is to improve the innovation capacity of SMEs and small mid-caps in Romania enhancing their competitive market positioning.

Transition Impact

The framework is the first EBRD financing facility dedicated specifically to innovation financing. The expected transition impact derives from the Competitive and Resilient transition qualities. The introduction of new and innovative products and processes has the potential to significantly enhance the efficiency and raise productivity levels of Romanian companies, which is one of the country strategy priorities, while simultaneously seeking to address the low R&D spending in the private sector. This will contribute to the Competitive quality. The improved product offer of the PFIs and their strengthened capacity to assess innovative firms and projects may open up an additional financing venue for Romanian companies and thus support the Resilient quality.

Client Information

PFIs may be commercial bank or other financial institutions operating in Romania.

EBRD Finance Summary

EUR 50,000,000.00

Total Project Cost

EUR 50,000,000.00

Environmental and Social Summary

The Framework's Technical Cooperation ("TC") component comprises technical assistance package to PFIs and eligible beneficiaries as well as grants to eligible beneficiaries in the form of investment incentives for successful completion of their innovative projects. The TC funds in the amount of EUR 12.5 million are provided by the European Union under the Horizon 2020 Research and Innovation Programme.

Technical Cooperation

Transition impact

ETI Score:55

PSD last updated

11 Nov 2019

Business opportunities

For business opportunities or procurement, contact the client company.

For state-sector projects, visit EBRD Procurement: Tel: +44 20 7338 6794
Email: procurement@ebrd.com

General enquiries

EBRD project enquiries not related to procurement:
Tel: +44 20 7338 7168
Email: projectenquiries@ebrd.com

Public Information Policy (PIP)

The PIP sets out how the EBRD discloses information and consults with its stakeholders so as to promote better awareness and understanding of its strategies, policies and operations. Please visit the Public Information Policy page below to find out how to request a Public Sector Board Report.
Text of the PIP

Environmental and Social Documentation is not available for this project.

Selected procurement notices related to this project may be shown below. Further procurement opportunities related to this and other projects, if available, maybe be viewed in the EBRD Procurement Portal.

The EBRD's Environmental and Social Policy (ESP), Access to Information policy (AIP) and Project Accountability Policy (PAP) enable sound and sustainable development in its projects. The Independent Project Accountability Mechanism (IPAM) deals with complaints about environmental, social and disclosure matters related to the Bank’s investments.

No complaints about this project have been made so far.

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