European Investment Bank and Eurobank sign two new loan agreements:
- EUR 100 million for the support of medium sized enterprises and MidCaps
- EUR 50 million for financing, through Eurobank Leasing, medium sized enterprises and MidCaps that seek to lease equipment and premises
EIB – Eurobank EUR 100 million new agreement
The European Investment Bank (EIB) and Eurobank signed a EUR 100 million new loan agreement to finance eligible investment projects undertaken by small and medium sized enterprises and MidCaps operating in Greece.
The new EUR 100 million loan, which shall be, immediately, made available by Eurobank to companies with the objective of being fully absorbed by the end of 2018, is within the framework of the EIB’s EUR 1 billion “Loan for SMEs and MidCaps” credit line to Greek banks. Under this program, Eurobank has already signed two more loan agreements summing up to EUR 250 million in total that have already been made available and fully absorbed by the eligible companies.
Through this credit line, SMEs and MidCaps active in agriculture, tourism, manufacturing, services and other sectors obtain financing in the form of investment loans and working capital at favorable pricing terms.
As was the case with the previous financing agreements signed with Eurobank, the latest loan agreement also incorporates the EIB’s “Skills and Jobs – Investing for Youth” initiative, offering more favorable pricing terms to enterprises that promote youth employment.
EIB - Eurobank and Eurobank Leasing sign new EUR 50 million loan agreement
Eurobank, Eurobank Leasing and EIB signed a new EUR 50 million loan agreement to finance, through Eurobank Leasing, SMEs and MidCaps that wish to lease equipment and premises.
Through the new EIB credit line of EUR 400 million in total, being implemented in Greece for the first time, companies gain access to financing for productive equipment and premises, enhancing their growth prospects, while strengthening the creation of new jobs. Companies that support youth employment will be given more favorable pricing terms.
Recognizing the importance that leasing products may have for the development of small & medium sized companies, Eurobank Leasing had signed a direct agreement with EIB already in 2009. Today Eurobank is actively involved in the new EIB initiative, implemented through its subsidiary Eurobank Leasing, with the EUR 50 million agreement.
Mr. Fokion Karavias, Eurobank CEO said: “Eurobank further expands its successful, long-term cooperation with the European Investment Bank, strengthening its strategy for the support of small & medium-sized enterprises and mid-caps operating in Greece with advantageous lending. The new agreements will be another valuable asset for Eurobank in its ongoing effort to contribute to the financing of sound and sustainable investment projects and the recovery of the real economy, to the highest possible extend».
Mr. Jonathan Taylor, EIB Vice President, responsible for Greece said: “Expansion plans of companies across Greece will benefit from this new dedicated support for leasing finance. The European Investment Bank is pleased to strengthen our longstanding and successful partnership with Eurobank through both the new EUR 50 million leasing facility and the additional EUR 100 million debt facility.”
The European Investment Bank
The European Investment Bank (EIB) is the long-term lending institution of the European Union owned by its Member States. It makes long-term finance available for sound investment in order to contribute towards EU policy goals.
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The Eurobank Group is a dynamic banking organisation active in six countries, with total assets of EUR 60 billion & 13,512 employees. With a total network of 700 branches in Greece and abroad, the Group offers a comprehensive range of financial products and services to its retail and corporate customers. In Greece, Eurobank is one of the four systemic banks. Τhe Group’s philosophy focuses on high quality services to its customers. The Group also holds strong position in Cyprus, Luxemburg, Bulgaria, Serbia and the United Kingdom.