More EIB support for jobs and growth Brussels, 23/10/2013 (Agence Europe) - On Tuesday 22 October, the Board of Directors of the European Investment Bank (EIB) approved loans for small and medium-sized businesses. EIB President Werner Hoyer commented: “We are well on track with our ambitious targets for an increased support for European SMEs and midcap companies. This underlines our strong commitment to contributing to the creation of jobs and growth in the EU”. Education, innovation and strategic infrastructure will receive some of the funding. SMEs and mid-caps. The EIBs Board of Directors approved loans worth up to €1.8 billion for the benefit of small and medium sized businesses (SMEs) and mid-cap companies in the European Union. This brings total EIB support for SMEs and mid-caps in the EU approved so far in 2013 to some €14 billion compared to €7.3 billion in the same period of 2012. At EIB Group level, the transactions approved by now in 2013 in support of SMEs amount to €16.8 billion, including €2.8 billion from the European Investment Fund (EIF). By the end of this year, the EIB Group will have provides a total of up to €20 billion to SMEs and mid-caps in Europe. Of the SME loans approved on Tuesday, up to €1 billion will go to projects in Italy, Spain and Portugal. Projects at small businesses in Poland will benefit from loans of up to €200 million. Education and jobs. Moreover, €200 million has been approved for an intermediated loan to boost access to education and youth employment and to improve educational infrastructure, teaching and research in Spain. Research, development and innovation (RDI). In the field of research, development and innovation (RDI), the Board approved loans for projects worth up to €250 million in order to strengthen the competitiveness of European businesses. One of them is for Acciona in Spain, financing investments in RDI in the water treatment, infrastructure and renewable energy sectors worth up to €120 million. Promoting strategic infrastructure. The Board also approved new loans worth up to €800 million to promote strategic infrastructure in Europe, including a loan of €200 million to Sδchsische Aufbaubank, supporting public municipal infrastructure and a loan of €100 million for the modernisation and extension of electricity distribution networks in Estonia. Projects worth up to €2.6 billion to support resource efficiency were approved by the Board. EIF. The Board of Directors of the European Investment Fund approved 14 new operations on 21 October through which the European Investment Fund (EIF) will continue supporting SMEs. These deals equal EIF commitments of €240 million and are expected to leverage €998 million of capital.
Posted on: Sat, 26 Oct 2013 22:30:47 +0000
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