The European Investment Bank (EIB) has approved a EUR 500 million loan to BBVA designed to ease access to finance for SMEs mainly in the industrial and service sectors. BBVA will provide a further €500 million, meaning that a total of EUR 1 billion will be made available for small Spanish businesses. The loan agreement was signed this morning in Madrid by EIB Vice-President Román Escolano and BBVA’s CEO, Carlos Torres Vila.
These funds will be used to provide finance on favourable rate and maturity terms to SMEs and midcaps in a wide range of productive sectors. The individual loans will finance investment of up to EUR 25 million in the case of SMEs and up to EUR 50 million in the case of midcaps.
The projects eligible for financing will be located mainly in Spain and around 20% of the funds will be earmarked for investment in convergence regions.
This is the second operation of this type with BBVA and comes under the EIB’s policy of supporting small and medium-sized businesses as a key means of fostering economic recovery and job creation.
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 that year, the EIB made available EUR 7 603 million in new credit lines for SMEs, benefiting more than 62 000 companies and self-employed entrepreneurs.
The European Investment Bank (EIB) has signed a EUR 250 million loan agreement with TenneT Holding B.V. The financing will be used to build a 40-km long electricity transmission corridor from Eemshaven to Vierverlaten in the province of Groningen, in the north of Netherlands, enabling the transmission of rapidly growing amounts of offshore wind energy to users in the Netherlands and beyond. The new electricity transmission corridor will double the capacity of the existing 220kV circuit. The corridor financed by the EIB includes a new 380kV line from Eemshaven to Vierverlaten, combined with a 110kV line for part of the route, and a new 380/220kV substation in Vierverlaten.
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.