- EIB offers €45 million credit line to Slovak lender VÚB to fund climate and other projects by range of businesses in country
- Support aimed at SMEs, Mid-Caps and public entities primarily in Slovakia’s cohesion regions
- Operation marks final tranche of €95 million agreement in 2023
A range of businesses in Slovakia will be eligible for green financing as a result of a €45 million credit line from the European Investment Bank (EIB) to Slovak lender VÚB. The operation will benefit Slovak small and medium-sized enterprises (SMEs), Mid-Caps and public entities that pursue projects to tackle climate change.
VÚB will direct the funding to companies in Slovakia’s cohesion regions, where per capita income is below the European Union average. Together with matching contributions from VÚB and other funders, the operation aims to catalyse at least €190 million in total investments.
The EIB credit line is the second and final tranche of a €95 million operation agreed in October 2023 with VÚB – part of the Italy-based Intesa Sanpaolo Group – to support relatively small projects by Slovak companies and bolster their working capital. The programme seeks to foster growth, competitiveness and a socially just transition to a carbon-neutral economy in Slovakia.
“The EIB is delivering affordable finance to businesses and projects across Slovakia, helping ensure balanced economic and social growth,” said Zuzana Kaparova, head of the EIB office in Bratislava. “These are our two top priorities and we are proud to be advancing them in Slovakia.”
Around 90% of the financing is slated for projects in Slovakia’s cohesion regions. At least 10% will support initiatives to counter climate change such as the promotion of energy efficiency and sustainable transport.
“This operation – and the strong market demand for such financing – show that Slovak businesses recognise the risks posed by climate change and are ready to act,” said VÚB Chief Director of Corporate Banking Andrej Viceník. “Together with the EIB, we are protecting local enterprises, jobs and livelihoods while strengthening the long-term sustainability of Slovakia’s economy.”
By blending EIB funds with VÚB’s own resources, the credit line will offer beneficiaries favourable financing terms including longer loan maturities and flexible interest rates.
Background information
European Investment Bank: The European Investment Bank (ElB) is the long-term lending institution of the European Union, owned by its Member States. Built around eight core priorities, we finance investments that contribute to EU policy objectives by bolstering climate action and the environment, digitalisation and technological innovation, security and defence, cohesion, agriculture and bioeconomy, social infrastructure, the capital markets union, and a stronger Europe in a more peaceful and prosperous world.
The EIB Group, which also includes the European Investment Fund (EIF), signed nearly €89 billion in new financing for over 900 high-impact projects in 2024, boosting Europe’s competitiveness and security.
All projects financed by the EIB Group are in line with the Paris Climate Agreement, as pledged in our Climate Bank Roadmap. Almost 60% of the EIB Group’s annual financing supports projects directly contributing to climate change mitigation, adaptation, and a healthier environment.
Approximately half of the EIB's financing within the European Union is directed towards cohesion regions,
About VUB
VUB is a member of the international banking group Intesa Sanpaolo, which is represented in more than 40 countries around the world with a network of banks, direct branches and representative offices. Bank operates 121 retail branches and 31 corporate branches in Slovakia and 1 branch in the Czech Republic.