Spain: in 2009 the EIB provided EUR 2.5 billion to finance SME and municipality projects

Published: 12 January 2010 y., Tuesday

Eurai
In 2009, the European Investment Bank (EIB) provided EUR 2.5 billion in 16 credit lines for financing the investment projects of SMEs (EUR 1 955 million) and local authorities (545 million) in Spain. These credit lines are managed by Spanish financial institutions, which, under agreements signed with the EIB, match the amount provided, bringing the total made available to SMEs and local authorities to EUR 5 billion. New credit lines have been opened with the following financial institutions:

- Banco Popular
 - ICO
 
- Banco Sabadell
 - IGAPE
 
- Banco Santander
 - Institut Català de Finances (2 lines)
 
- BBVA
 - Instituto de Crédito y Finanzas de Murcia
 
- Caixa Galicia

- Caja Madrid
 - Instituto Valenciano de Finanzas

- Luzaro
 
- Caja Navarra
 - Unicaja
 
- Dexia Sabadell
 

“This large amount of credit made available to Spanish SMEs and local authorities – 55% more than in 2008 – is especially important at a time of difficult access to credit and makes clear the Bank’s commitment to helping SMEs and local authorities, whose investment is proving to be essential to economic recovery”, said Carlos da Silva Costa, the EIB Vice-President responsible for operations in Spain.

These loans come under the Bank’s policy of assisting small businesses by providing funds enabling favourable lending conditions in terms of longer maturities, flexible disbursement and lower interest rates. Credit lines are designed to part finance SME projects mainly in industry, tourism and services and support both traditional investment in fixed assets and other elements essential to companies’ growth such as RDI 2 and the establishment of distribution networks. Some also permit the financing of working capital.

Credit lines for local authorities are geared to financing small-scale infrastructure projects promoted by local and regional bodies and help to improve public services for the benefit of all users while creating jobs during the construction period.

To achieve these goals, the EIB works closely with financial entities throughout Spain, including the major banks and the majority of regional savings banks and financial institutions. Of the credit lines created in 2009, those provided to Caixa Galicia, Caja Navarra, Instituto de Crédito y Finanzas de Murcia and Unicaja are the first set up by the EIB in cooperation with those financial institutions.

The EIB is the EU’s long-term financing institution promoting European objectives. Created in 1957, it operates in the 27 EU Member States and more than 130 countries worldwide. EIB financing operations are mounted in the framework of well defined EU policies. As an EU policy, support for European SMEs is also an investment priority of the EIB.

 

Šaltinis: europa.eu
Copying, publishing, announcing any information from the News.lt portal without written permission of News.lt editorial office is prohibited.

Facebook Comments

New comment


Captcha

Associated articles

The most popular articles

FDI in Lithuania Grew by 5 % and Lithuania’s Investment Abroad Increased by 14 %

Statistics Lithuania has calculated that, based on provisional data, FDI in Lithuania in 2009 amounted by 5.3 % more than in 2008. Also, direct investment of Lithuanian enterprises abroad grew by 13.9 % in 2009. more »

Fish industry voices concern over foreign fish and falling prices

Concerns about foreign fish being sold in Europe and what to do about the future of Europe's fisheries industry were aired in a hearing held by the Fisheries Committee on 8 April. more »

Future of European agriculture - have your say

EU opens public debate on its agricultural policy, the prelude to a major reform in 2013. more »

Commission launches €35 million call for projects that turn environmental challenges into business opportunities

The European Commission today launched a €35 million call for eco-innovation projects to be funded under the Competitiveness and Innovation Programme. more »

Bank SNORAS group consolidates the activity of the Baltic investment companies

Bank SNORAS group company Finasta Holding recruits all funds management and investment companies of the group in the Baltic States. more »

European Central Bank and European Commission hold joint conference on "financial integration and stability: the legacy of the crisis"

The European Central Bank (ECB) and the European Commission are jointly holding a high-level conference on financial integration and stability at the ECB’s premises in Frankfurt am Main. more »

12 April 2010 - ECB signals a gradual recovery of the European financial integration process

Today, the European Central Bank (ECB) is publishing its fourth Report on Financial Integration in Europe, which notes the return towards integration in the European financial markets. more »

World Bank Group: Record US$100 Billion Response Lays Foundation for Recovery from Global Economic Crisis

World Bank Group financial commitments since July 2008, just before the full fury of the financial crisis hit, reached US$ 100 billion today as the institution helped countries respond to and recover from the global downturn. more »

IMF Executive Board Concludes 2010 Article IV Consultation with Serbia

On March 31, 2010, the Executive Board of the International Monetary Fund concluded the Article IV consultation with Serbia. more »

United Kingdom Contributes US$7.5 Million to Support IMF Technical Assistance in Statistics in Africa

The International Monetary Fund and the United Kingdom’s Department for International Development have launched a new project to improve macroeconomic statistics in 23 African countries. DFID will provide US$7.5 million over the next five years to support the project. more »