Banco Sabadell and EIB promote financing for Spanish SMEs and mid-cap companies

They sign an agreement

The signed agreement will allow the Spanish bank to facilitate up to a maximum of 400 million euros in new loans over the next two years to finance projects for SMEs and mid-caps in Spain.

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Banco Sabadell and the European Investment Bank (EIB) have signed a guarantee agreement of up to 200 million euros as the first tranche of the operation that the EIB has approved for a total amount of up to 300 million euros. The signed agreement will allow the Spanish bank to provide up to a maximum of 400 million euros in new loans over the next two years to finance projects SMEs and mid-caps in Spain. The maximum amount of the loans may be increased to 600 million euros at the time of signing the remaining tranche of the total approved by the EIB.

 

The EIB guarantee to Banco Sabadell is made on a portfolio of existing corporate loans, creating additional financing capacity to support the Spanish business fabric. For its part, Banco Sabadell is committed to financing new SME and mid-cap projects for twice the amount guaranteed by the EIB.

 

The transaction is part of the EIB's actions aimed at financing SMEs and mid-cap companies, in line with EU priorities to increase the competitiveness of the business sector.

 

The objective of this guarantee is to promote and accelerate private sector investment y support working capital and liquidity needs, as well as the investment limitations of SMEs and mid-caps. This segment faces these investment difficulties as a result of persistent inflationary pressures and interest rate increases, among other issues.

 

Half of the investments are expected to be carried out in regions considered less developed by the EU, where per capita income is less than 75% of the EU average. UE.

 

Charles Ventura, general director and director of Business Banking, Network and Private Banking at Banco Sabadell. He stated: “This agreement is another example of our firm commitment to companies. For this reason, it has always been very important for Banco Sabadell to collaborate with organizations such as the EIB to jointly offer the better financing conditions for business projects of our clients.”

 

“We are very pleased to collaborate again with Banco Sabadell to facilitate access to attractive credit solutions for SMEs and mid-caps in Spain, which are of vital importance for the country's economy,” he declared. Jean-Christophe Laloux, Director General of EU Operations at the EIB. “Strengthening the economic, social and territorial cohesion of the European Union is one of the EIB's transversal objectives.”