Energy Efficiency and Renewable Energy (EERE) – Malta Instrument (SFSB) (Q3056250)
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Project Q3056250 in Malta
| Language | Label | Description | Also known as |
|---|---|---|---|
| English | Energy Efficiency and Renewable Energy (EERE) – Malta Instrument (SFSB) |
Project Q3056250 in Malta |
Statements
12,000,000.0 Euro
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15,000,000.0 Euro
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80.0 percent
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19 December 2018
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31 December 2023
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Office of the Prime Minister
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Further to the ex-ante assessment and based on the market testing conducted by the EIF, a First Loss Portfolio Guarantee instrument will be made available to the market. The EIF shall select Financial Intermediaries that shall build up a portfolio of loans to private individuals and Corporates under the instrument. The First Loss Portfolio Guarantee (FLPG or Guarantee) is a capped guarantee financial instrument providing better access to finance to Private individuals and Corporates and providing a reasonable leverage on the use of public funds. Under and FLPG, Financial Intermediaries would extend loans to private individuals and corporates (“Final Recipients”) counting on a partial guarantee from EIF FoF covering losses up to a cap amount established at the portfolio level. The Financial Intermediaries would then pass the benefit of the guarantee on to Final Recipients as an improvement of conditions for Final Recipients financing such as e.g. reduction of risk margin in the interest of the loans/leases and/or reduction of the collateral requirements. The proposed ERDF contribution amounts to €15M. Expected leverage is of x4 and the advantages to Final Recipients will also include an interest rate reduction and/or potential lower collateral requirements. The aim is to provide better access to finance EE and RE projects for both Maltese private individuals and corporates (Micro, SMEs and Mid-caps) in general and facilitated access to finance particularly for riskier Final Recipients lacking sufficient collateral. (English)
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Identifiers
ERDF.04.046
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