The European Investment Bank (EIB) and Bankinter have today concluded a EUR 350m loan aimed at facilitating the financing of investment and working capital projects promoted by SMEs (small and medium-sized enterprises) and midcaps in Spain and Portugal. The corresponding finance contract was signed by EIB Vice-President Román Escolano and Bankinter's CEO, Maria Dolores Dancausa.
Bankinter will match the EIB financing with a further EUR 350m, meaning that a total of EUR 700m will be made available to SMEs and midcaps.
Part of the funds may be used by Bankinter to finance new loans to SMEs eligible for guarantees under the SME Initiative, the loan guarantee programme promoted by the EIB together with the European Commission and the national and regional structural fund management authorities
Supporting SMEs, the key drivers of job creation and economic recovery, is one of the EIB’s top priorities. The EIB funds will provide businesses with long-term financing for their investments under favourable conditions.
Photographer: EIB ©BANKINTER
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