A loan of €200 million has been granted by the European Investment Bank (EIB) to Banco Santander for financing investment projects carried out by small businesses. Banco Santander will match this amount with a further €200 million, meaning that a total €400 million will be pumped into financing SMEs under the loan agreement.

Supporting SMEs is one of the EIB’s investment priorities as an EU objective. In 2011, for example, the EIB Group provided a record €13 billion worth of loans for small and medium-sized businesses. On this occasion, the European Investment Bank (EIB) has granted a €200 million loan to Banco Santander for financing investment projects carried out by small businesses. Banco Santander will match this amount with a further €200 million, meaning that a total €400 million.

On 15 June 2012, €100 million loan was granted for financing the investment projects of mid-cap companies signed by EIB Vice-President Magdalena Álvarez and the CEO of Banco de Santander, Emilio Botín, which was matched by Banco Santander with a further €100 million. These operations have strengthened the ties between the two institutions and provided access to investment financing for small businesses in a wide range of economic sectors.

This loan comes under the EIB’s policy of assisting small businesses in the current economic crisis by facilitating their access to credit with long maturities, flexible disbursement schedules and low interest rates, so ensuring their sustainability and fostering job creation.