The European Investment Bank (EIB) and Bankia today signed a EUR 200 million loan agreement designed to facilitate access to finance for SMEs and midcaps. Bankia will match the EIB loan with the same amount, meaning that a total of EUR 400 million will be made available to finance Spanish businesses.
The agreement was signed today by EIB Vice-President Román Escolano and Bankia’s CEO, José Ignacio Goirigolzarri.
At the signing ceremony the EIB Vice-President stressed that “with this new loan the EIB is taking another step forward in its firm commitment to helping small and medium-sized businesses, which are truly the backbone of our economy and key to making progress towards its recovery”. He went to express his “great satisfaction at this operation, which testifies to Bankia’s efforts to forge a new corporate strategy and foster the recovery and smooth functioning of Spain’s financial sector”.
Bankia’s CEO said that “this agreement reaffirms Bankia’s commitment to Spanish firms, for which funding is essential and the best form of assistance that they can receive. At Bankia we wish to support businesses in their investment decisions, and this agreement will help us to achieve that goal”.
SMEs and midcaps (firms with up to 3 000 employees) in a broad range of productive sectors will have access to this funding on favourable interest rate and maturity terms for financing their investment and working capital needs.
The European Investment Bank (EIB) and UniCredit Bulbank Bulgaria today signed a guarantee agreement of €60 million that is expected to unlock new loans of nearly €200 million to support Bulgarian businesses suffering from the economic consequences of the COVID-19 pandemic.
The winners of the tenth edition of the Social Innovation Tournament’s (SIT) General Category are Magrid with first prize and Inclusive Education with second prize, while Cellugy (ecoFLEXY) and Orange Fiber won first and second place in the Special Category, which is dedicated to projects focusing on sustainable living. Orange Fiber is also the winner of the Audience Choice Award, the company that received the most votes from the audience watching the tournament online. Moreover, Orange Fiber and Vortex Bladeless were selected to attend the INSEAD Social entrepreneurship programme.
Rabobank and the European Investment Bank (EIB) are launching the sixth in their series of “impact loans” to support sustainable entrepreneurship in the Netherlands. So far, over 470 environmentally conscious businesses in the Netherlands have already benefitted from advantageous lending conditions of the EIB-backed impact loans with the Rabobank, which first started in 2015. The impact loans are available to entrepreneurs and SMEs that hold one of the selected sustainability labels, certifying their commitment and effort towards making their businesses socially and environmentally sustainable.