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Bankia and EIB sign agreement to lend an aggregate of €500 million to SMEs and the self-employed

20 December 2016

Category: Business

  • The EIB will provide €250 million and Bankia will complete the loan with another €250 million
  • In the last two years, the two banks have jointly extended credit of €1.9 billion to SMEs
  • Bankia is the Spanish bank that has obtained the most funds from the EIB SMEs Midcaps Credit Line during 2016

The European Investment Bank (EIB) and Bankia have signed an agreement that will allow some 500 million euros in credit to be extended to SMEs and the self-employed. Through this EIB SMEs Midcaps credit line, the EIB will contribute 250 million euros that will be matched by Bankia with a further 250 million euros.

Small and medium-sized enterprises (SMEs) and midcaps (companies employing up to 3,000 persons) may draw on this long-term financing fund their capital expenditure and their working capital requirements up to a maximum of 25 million euros in the case of SMEs and the self-employed and of 50 million euros for midcaps.

The loans will have favourable interest rates and maturities and may be used in a broad ran economic sectors.

This is the fourth operation of its kind undersigned by the EIB and Bankia since October 2014. The 950 million euros allocated in the previous arrangements, matched by Bankia to reach a total of 1,900 million euros, have been channelled in their entirety into loans to SMEs, benefitting more than 3,500 businesses.

Bankia is the Spanish bank which to date has obtained the most funds from the EIB facilities for SMEs and midcap companies during 2016.

On the European Investment Bank (EIB):

The European Investment Bank (EIB) is the long-term lending institution of the European Union and is owned by the EU Member States. It provides long-term finance to viable investment projects with the aim of contributing to furthering EU policy objectives.

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