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Bankia and the EIB sign €1 billion loan agreement for SMEs and the self-employed

06 July 2017

Category: Business

  • The EIB will contribute 500 million and Bankia the other 500 million to complete the loan
  • SMEs and the self-employed will be eligible for up to €25 million per transaction, while medium-size companies can receive up to €50 million

Bankia and the European Investment Bank (EIB) have signed a new agreement that will make €1 billion in loans available to SMEs, the self-employed and medium-sized companies.

Under the terms of the agreement, the EIB will contribute €500 million to this facility and Bankia will provide the other €500 million in order to offer loans to companies to undertake projects.

The agreement allows SMEs and medium-sized companies to access these long-term funds to finance both investments and working capital requirements under advantageous conditions.

The maximum cost of the project per company will be €25 million for SMEs and the self-employed, rising to €50 million for medium-sized companies.

The loans offered jointly by Bankia and the EIB cover a wide range of productive sectors, with the aim of providing financing that can meet their needs at any given time.

This is the fifth operation of this type that the EIB and Bankia have signed since October 2014, through which €2.8 billion in financing has already been channelled to SMEs and medium-sized companies.

About the European Investment Bank (EIB)

The European Investment Bank (EIB) is the European Union's long-term lending institution owned by member states. It provides long-term financing for viable investment projects in order to help the EU achieve its policy objectives.

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