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  • Spain: EIB and Bankoa Crédit Agricole join forces to provide EUR 150 million for SMEs

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  • EIB and Bankoa Crédit Agricole join forces to provide EUR 150 million for SMEs

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  • The EIB and Bankoa are providing EUR 150 million to finance the investments of SMEs (firms with up to 250 employees) and midcaps (firms with up to 3,000 employees). Under an agreement signed by the two institutions, the EIB will grant Bankoa a EUR 75 million loan, which the Basque bank will match with a EUR 75 million contribution of its own. The agreement was signed in Donostia-San Sebastián today by EIB Vice-President Román Escolano and Bankoa’s CEO, Jesús Suárez. 


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  • The European Investment Bank (EIB) and Bankoa are providing EUR 150 million to finance the investments of SMEs (firms with up to 250 employees) and midcaps (firms with up to 3,000 employees). Under an agreement signed by the two institutions, the EIB will grant Bankoa a EUR 75 million loan, which the Basque bank will match with a EUR 75 million contribution of its own. The agreement was signed in Donostia-San Sebastián today by EIB Vice-President Román Escolano and Bankoa’s CEO, Jesús Suárez.  

    Half of the EUR 150 million will be used to provide loans to SMEs and the other half will contribute to financing projects carried out by midcaps in sectors such as industry, IT and services.  Owing to its dense industrial fabric, the Basque Country has a high concentration of midcaps, which with the EIB’s backing will be able to benefit from financing on favourable interest rate and maturity terms designed to boost their competitiveness so that they can continue generating growth and creating jobs.

    At the signing ceremony, EIB Vice-President Román Escolano stated: “Financing small and medium-sized businesses is one of the EIB’s priorities in Spain. They are vehicles of wealth and job creation. Today's agreement will enable us to reach both SMEs and midcaps, which are key to generating economic growth in the Basque Country. This agreement will enable them to benefit from EIB financing to undertake the necessary investment to ensure their competitiveness”.

    Jesús Suárez, CEO of Bankoa Crédit Agricole, stressed the importance of this funding for the region’s businesses and underlined the role that the institution has been playing since its beginnings: “In terms of its roots and the training of its employees, Bankoa has always been close to the business community, especially supporting mid-sized firms as well as entrepreneurs, managers and professionals, providing them with advise and financing for their projects”. 


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  • Last modified-on: 14-07-2017