Monday, September 26, 2016

EIB lends 300 million to banks to finance SMES – Public.en

The European Investment Bank (EIB) contratualizou this Monday with the BPI, CGD, BCP and Santander Totta to a total loan of 300 million euros for the financing of projects carried out by SMES and small businesses.

The goal is to “operationalise the programme to the EIB for the creation of employment and start-ups [companies in the beginning of the activity] in Portugal,” said the authority, adding that this project falls within the financial pillar of the Investment Plan for Europe.

In the first phase, each of the four banks will receive a loan of 70 million euros, for a total of 280 million euros, and at a later stage will be offered an additional loan of 20 million euros, bringing the global amount of 300 million euros.

Werner Hoyer, EIB president, and Román Escolano, EIB vice-president, participated in the signing ceremony of these lines, in Foz Palace, in Lisbon, with senior executives of the banks involved, having also participated the minister of Finance, Mário Centeno.

These loans are primarily to finance start-ups and companies employing young people and long-term unemployed, as well as entrepreneurs who create their own employment.

According to the EIB, these lines “will help to increase the financing capacity of some of the main Portuguese banks, allowing them to unlock investments by SMES and companies, mid cap [medium sized] for these specific purposes”. The ceremony took place on the day that the EIB celebrates 40 years of activity in Portugal.

“This excellent cooperation will continue in the future. Over the past 40 years the bank [EIB] has supported more than 25,000 Portuguese SMES and has contributed to funding the infrastructure and industry of the country. Today, we are here to show that the EIB Group is committed to supporting the Portuguese economy,” said Werner Hoyer.

as for Carlos Currencies, european commissioner for Research, Science and Innovation, found that “the Investment Plan is a resource proven to SMES and start-ups with innovative and high intensity of R&D [research and development], whose findings are exceed expectations”.

And he added: “it Was for this reason that we increased recently the amount of funding available for SMES under this Plan. The loans announced today in the amount of 300 million euros for SMES and start-ups to the Portuguese show how the Investment Plan makes a real difference to our citizens.”

The european commissioner showed expectation about “news in the future about the Plan for Investment in Portugal”.

After the signing ceremony of the lines with the heads of the EIB and of the four banks involved in this project, and the press conference, there has been a meeting in private with the leaders of the banks and the governor of the Bank of Portugal, in which also participated the prime minister, António Costa.


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