ANNOUNCEMENT 09 Jan 2018
On 9 January 2018, the European Investment Bank (EIB) announced signing a credit line agreement with Bankia SA to support small and medium-sized enterprises (SMEs) and mid-cap companies in Spain.
NUMBER OF INTERVENTIONS
The European Investment Bank, Financed Projects, BANKIA LOAN FOR SMES & MIDCAPS V: http://www.eib.org/en/projects/loan/loan/20170797
The European Investment Bank, Project summary, Project No. 20170797, BANKIA LOAN FOR SMES & MIDCAPS V: http://www.eib.org/en/projects/pipelines/pipeline/20170797
The European Investment Bank, press release of 9 January 2018, EIB and Bankia allocate EUR 800m to finance SME and midcap investments: http://www.eib.org/en/infocentre/press/releases/all/2018/2018-002-eib-and-bankia-allocate-eur-800m-to-finance-sme-and-midcap-investments
The credit line loan agreement between the European Investment Bank (EIB) and Bankia SA was signed on 29 September 2018 and has a total value of EUR 400 million (approx. USD 465 million).
More specifically the credit line will, through Bankia SA, support small or medium project carried out by mainly Spanish small and medium-sized enterprises (SMEs) and mid-cap companies. A minimum of 70% of the credit line will finance SMEs.
In this context, the EIB stated: "This intermediated loan will improve competitiveness and access to finance at favourable conditions for SMEs and mid-caps."
EIB Vice-President Román Escolano stated in a press release: "Ensuring that smaller businesses have the resources they need to invest is one of the EIB's priorities. For this reason, we are happy to sign an agreement that will bring the advantages of EU bank financing to SMEs and midcaps, key drivers of wealth generation and job creation."
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