The European Investment Bank (EIB) announced that in 2011 provided €13 billion of finance for SMEs, reaching a record. Overall more than 120,000 SMEs received EIB Group support across Europe last year. In addition, the EIB signed €61 billion of new loans in almost 70 countries.

SMEs received €13 billion of finance from the European Investment Bank (EIB) last year. Overall more than 120 000 SMEs received EIB Group support across Europe in 2011, because, according to the EIB, the group remained firmly focused on its mandate to support the real economy. In 2012, the EIB is foreseen to continue with the same goal. For example, in January 2012 it signed an agreement with Bankinter to finance SMEs.

The funding granted in 2011 reflects the exceptional level of SME loan contracts the EIB concluded with partner banks in 2009/10 and the efforts made by the EIB and the European Investment Fund to reach micro enterprises, another important mechanism for getting people out of unemployment. SMEs account for more than two thirds of private sector employment in Europe and grow more quickly than larger firms, making them an important source of new jobs. However, their size also makes them more vulnerable in times of crisis.

In 2011, the EIB signed €61 billion of new loans in almost 70 countries. €54 billion was provided for projects within the European Union and €7 billion outside -with half dedicated to pre-accession countries. The EIB managed to extend its highest-ever financial contribution to the real economy by disbursing €60 billion. Furthermore, support for projects that reduce carbon emissions rose to 30% of total lending, providing €18 billion for climate action.