Today, the EIB’s Board of Directors announced approvals of loans worth up to EUR 2.4 bn for the benefit of small and medium sized businesses (SMEs) and mid-cap companies (up to 3000 employees). This will bring the total EIB support for European SMEs and mid-caps approved in the first four months of 2013 up to some EUR 4.2 billion.

Today, the EIB’s Board of Directors announced approvals of loans worth up to EUR 2.4 bn for the benefit of small and medium sized businesses (SMEs) and mid-cap companies (up to 3000 employees). This will bring the total EIB support for European SMEs and mid-caps approved in the first four months of 2013 up to some EUR 4.2 billion.

The newly approved loans are part of the increased EIB and EIF support to SMEs for the period 2013 to 2015 which is possible thanks to the EIB’s capital increase agreed in 2012.  

 “Providing finance to SMEs and Mid-Caps is our key priority since they are essential for growth, employment and innovation in the EU economy. We will continue to strengthen our support for these crucial European businesses in the course of this year and the years to come” said Werner Hoyer, EIB President.

Financing SMEs in Europe is a key priority in the EIB’s growth and jobs facility. The EIB Board of Directors also approved projects in the other priority sectors: innovation (EUR 1.2 bn), resource efficiency (EUR 120 m) and strategic infrastructure (EUR 412 m).

The approved loans for SMEs and Mid-Caps announced today are directed to intermediaries and recipients in several countries:

EUR 500 m for investments promoted by SMEs and Mid-Caps in Spain and the EU (ICO);

EUR 400 m for investments through medium and long-term loans and leasing schemes in Italy (INTESA SAOPAOLO);

EUR 400 m for investments promoted by SMEs via medium and long-term loans and leasing schemes in Italy (UNICREDIT);

EUR 400 m for investments by SMEs and Mid-Caps in the industrial, agricultural and service sectors in the UK (SANTANDER UK);

EUR 50 m for investments promoted by SMEs in the Austrian tourism sector (OeHT);

EUR 100 m for small and medium-sized projects carried out primarily by SMEs in the Czech Republic (CSOB BK);

EUR 200 m for SMEs, Mid-Caps and other eligible investments in Italy (BP VICENZA);

EUR 150 m for SMEs, Mid-Caps and other eligible investments in Italy (CARIGE);

EUR 70 m for investments by SMEs and Mid-Caps and other eligible projects in the areas of knowledge economy, energy and environment in Italy (CR BOLZANO)