EIB and Banca March provide €400m to finance Spanish SMEs

Region:

Europe

The European Investment Bank (EIB) and Banca March are joining forces to provide financing with favourable conditions in terms - of both maturities and interest rates - to Spanish small and medium-sized enterprises and mid-caps.

The EIB has provided a €200 million loan to Banca March, which itself will add a further €200 million to Spanish companies to fund their working capital and investment projects.

Part of this financing will go towards promoting investment in innovation to enable Spanish companies to implement their research, development and innovation strategies. Another of the agreement's key objectives is to support businesses operating in areas with high unemployment.

To be eligible for the new EIB and Banca March credit line, investment project costs must be under €12.5 million for small businesses and up to €25 million for mid-caps.

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