Horizon Innovation Financing Facility

Location:

Romania

Project number:

48626

Business sector:

Financial institutions

Notice type:

Private

Environmental category:

FI

Target board date:

11 Dec 2019

Status:

Concept Reviewed

PSD disclosed:

06 Nov 2019

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

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.

Business opportunities

For business opportunities or procurement, contact the client company.

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