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.
La Team Europe a annoncé ce jour, en présence du Premier Ministre, S.E.M. Patrick Achi, plusieurs actions à travers lesquelles les partenaires européens de la Côte d'Ivoire soutiennent sa relance économique post-Covid et le renforcement de son système de santé et de solidarité.
The European Investment Bank (EIB) will provide Empresa Metropolitana de Abastecimiento y Saneamiento de Aguas de Sevilla S.A. (Emasesa) with financing of up to €75 million to support water infrastructure investments in Seville and the surrounding municipalities between 2020 and 2024, with the aim of improving service quality. Emasesa, whose majority shareholder is the Municipality of Seville, is the entity in charge of providing water services to the city of Seville and to 11 towns in the surrounding metropolitan area.
The European Investment Bank has committed to supporting Finnish company TactoTek, which develops “in-mold structural electronics” (IMSE®) production methods and technologies. The company will use the financing to increase its investments in innovation and research, as well as to sustain its growth, which was hampered by the difficulties brought about by the COVID-19 pandemic. The financing was made available under the European Guarantee Fund (EGF), a pan-European programme to help SMEs that are viable in the long-term but are struggling in the current crisis, to grow their way out of the ongoing difficulties.