EIB offers EUR 7.8 bln in support for businesses

Friday 13 November 2020 14:34 CET | News

The European Investment Bank (EIB) has approved EUR 7.8 billion of new financing to support investment by business impacted by COVID-19.

Part of this investment, the EIB approved EUR 2.6 billon for new targeted business financing programs. This includes dedicated support for tourism companies hit by the COVID-19 crisis in France and a regional investment programme for growth companies in Bavaria.

Furthermore, access to financing in Bulgaria, France, Germany, Romania and Spain will be enhanced by EIB support for new schemes managed by local financial and banking partners. Direct EIB backing for corporate investment in electric vehicles, renewable energy and chemical innovation was also approved, alongside increased support for venture debt financing across Europe.

New initiatives to enhance access to finance by SME supply chain companies in Spain and venture debt financing across Europe will be supported by the European Guarantee Fund.

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Keywords: European Investment Bank, supply chain finance, trade finance, COVID-19, Europe, SME, funding, debt financing
Categories: Banking & Fintech
Countries: Europe
This article is part of category

Banking & Fintech