The European Investment Bank (EIB) and Kutxabank have signed a EUR 200 million loan agreement to finance SMEs (firms with up to 250 employees) and midcaps (firms with up to 3 000 employees). The EIB funds will be earmarked for financing investment mainly in the industrial and service sectors and will have a positive impact on economic activity and employment.
Kutxabank will match the EIB loan with the same amount, meaning that total finance of EUR 400 million will be made available. The individual loans will finance projects costing up to EUR 25 million in the case of SMEs and up to EUR 50 million in the case of midcaps.
EIB Vice-President Román Escolano said that “this loan agreement represents a further demonstration of the European Investment Bank’s firm support for small and medium-sized businesses, which form the backbone of our productive fabric and are therefore key to taking the process of economic recovery forward”.
Kutxabank’s President Gregorio Villalabeitia added that “with this agreement we are seeking to ensure that no viable project remains unfinanced, as it will provide favourable access to finance in terms of both rates and maturities. It is therefore an operation that fits in perfectly with our business strategy of supporting Euskadi’s entrepreneurial fabric”.
In 2014, the EIB Group (including the European Investment Fund) provided EUR 25 500 million in support of some 290 000 SMEs and midcaps throughout Europe. In Spain, the EIB made available EUR 7 603 million in new credit lines for SMEs, benefiting more than 62 000 such firms.
Nordea has signed a guarantee agreement with the EIB Group, consisting of the European Investment Bank (EIB) and the European Investment Fund (EIF). Under the agreement, European support will guarantee a portfolio of Nordea lending up to €1.8 billion, freeing up capital for new loans for sustainable initiatives of Swedish and Finnish companies. The green loans will be offered to eligible SME’s and include offering reduced margins for eligible projects. The initiative is backed by the European Union’s Investment Plan for Europe, which is aimed at encouraging sustainable, long-term economic growth in Europe.
The European Investment Bank (EIB) has signed a €15 million financing deal with Dutch cybersecurity company EclecticIQ, a leader in threat intelligence, hunting and response technology and services. The agreement will give EclecticIQ access to the funding it needs to further accelerate the development of its cybersecurity platform and expand internationally in a strategically important and rapidly growing market. The EIB financing is backed by the European Commission through the European Fund for Strategic Investments (EFSI), the main pillar of the Investment Plan for Europe.
Lower population density areas in Poland will gain a better internet connection and access thanks to the deployment of very high capacity network broadband services under a project financed by the European Investment Bank (EIB).