Spain: EIB-Bankinter: EUR 400 million for SMEs and midcaps
The European Investment Bank (EIB) and Bankinter have signed a EUR 200 million agreement to finance the investment projects of SMEs (firms with up to 250 employees) and midcaps (firms with up to 3000 employees) in the industrial and services sectors. Bankinter will match this EIB loan with the same amount, meaning that a total of EUR 400 million will be made available to such companies.
The EIB loan will serve to provide small and medium-sized business with long-term finance at low interest rates. Under the agreement, Bankinter undertakes to pass on the benefits of EIB funding to the end customers.
This credit line will support the financing of investment projects costing up to EUR 25 million in the case of SMEs and up to EUR 50 million in the case of midcaps, mainly in Spain. It is envisaged that a large part of the recipients of the funding will be located in convergence regions.
With this new loan, the EIB is continuing to demonstrate its commitment to providing easier access to credit for small and medium-sized business – the drivers of growth and job creation.