The EIB has provided EUR 20m to VÚB Leasing to finance smaller projects pursued by SMEs and midcaps. The loan is designed to support investments fostering regional development and environmental and knowledge-based economy projects.

The European Investment Bank (EIB) has provided EUR 20m to VÚB Leasing to finance smaller projects pursued by SMEs and midcaps. The loan is designed to support investments fostering regional development and environmental and knowledge-based economy projects.

This second tranche of a EUR 50m loan will support SMEs employing a maximum of 250 employees, midcap companies with up to 3 000 employees, and other business entities in both the public and private sector. The financing can be set up as a financial or operating lease as well as a loan.

“Support for SMEs and midcaps, representing a strategic segment of the national economies of EU Member States, including Slovakia, is of crucial importance both for Slovakia and the EU bank,” stated EIB Vice-President Vazil Hudák. “This sector is very flexible, with big potential to generate new job opportunities, particularly in rural, less advanced areas, and to contribute substantially to GDP creation,” he added.

The first part of the loan, a EUR 30m tranche extended to VÚB Leasing in May 2016, has been successfully allocated for the co-financing of more than 100 projects. These are mainly in manufacturing and the transportation and agriculture sectors including leases of laser metal cutting machines, CNC machines, industrial printing technologies, buses, combine harvesters, and other machinery and transportation vehicles.