Access to loans for small and medium-sized enterprises (SMEs) in Estonia, Latvia and Lithuania is expected to improve thanks to a loan agreement signed today between the European Investment Bank (EIB) and UniCredit Leasing SIA.
The EIB will lend up to EUR 45 m to UniCredit Leasing, which will finance projects in Estonia, Latvia and Lithuania by on-lending funds to eligible SMEs. UniCredit Leasing SIA, part of the UniCredit international banking group, specialises in financing industrial machinery. It is one of the leading providers of finance and operational leases in Latvia.
“The EIB is happy to sign this agreement with UniCredit Leasing and help finance increased productivity and competitiveness in SMEs in the Baltic countries, thereby supporting key EU regional development objectives,” said EIB Vice-President Eva Srejber.
Background:
The mission of the EIB, the European Union’s bank, is to contribute to the integration, balanced development and economic and social cohesion of the EU Member States by financing sound investments. This loan is one of many supporting the EU Strategy for the Baltic Sea Region and its four priorities: sustainable environment; regional prosperity; increased accessibility and attractiveness; safety and security.
Unicredit is a major international financial institution present in 22 European countries and an international network present in approximately 50 markets, with 9,578 branches and more than 162,000 employees. In the Central and Eastern European region, UniCredit operates the largest international banking network with around 4,000 branches and outlets.