The EIF will grant a guarantee of up to EUR 210 million which, while Banca March’s will provide the rest of the funds. It is estimated that the agreement signed will facilitate access to finance at advantageous conditions for more than 350 small businesses affected by the pandemic, thereby also safeguarding employment levels.
This agreement between Banca March and the EIF falls under the Pan-European Guarantee Fund, part of the European Union's EUR 540 billion package to address the economic impact of COVID-19.
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