The European Investment Bank (EIB) and Bankinter signed an agreement to finance the investment projects – especially innovation projects – of SME and midcap companies (with up to 3,000 employees) in the industrial and service sectors. The EIB will contribute with €200 million and Bankinter will match this EIB loan with the same amount.

The European Investment Bank (EIB) and Bankinter signed an agreement of €400 millions in total for SMEs and midcaps (with up to 3,000 employees) to finance projects in the industrial and service sectors, especially innovation projects. In January 2012, the European Investment Bank signed an agreement with Bankinter to finance SMEs for the same total amount.

The funding has as main aim to improve the Bank’s support for the economic development of SMEs in Spain. A number of the projects eligible for financing under this credit line will be located in convergence regions. This EIB loan will also help to boost the productivity and competitiveness of the beneficiary firms, foster the rational use of energy and diversification of energy sources and promote private enterprise in the health and education sectors.

In 2012, the Bank provided €2,875 million for new credit lines designed to finance the investment projects of SMEs and midcaps in Spain. In 2011, the European Investment Bank funding for SMEs reached a record level. The European Investment Bank is the long-term lending institution of the European Union owned by its Member States.