They sign a guarantee agreement
The credit line is linked to specific financing products provided by the InvestEU Fund and cover two areas: sustainability and innovation and digitalisation.
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El European Investment Fund (EIF) and Banco Santander intensify their support for SMEs and to small mid-cap companies through an agreement within the framework of InvestEU guarantee program worth €200 million. The guarantees under this agreement will allow Banco Santander to offer €280 million of new financing that will help these companies realize their full potential. The line of credit is linked to specific financing products provided by the InvestEU Fund and they cover two areas: sustainability and innovation and digitalization.
The guarantee of InvestEU 'Sustainability' amounts to €135 million. The EIF and Banco Santander will intensify their support for the green transition with these guarantees, helping beneficiaries to make green, sustainable and environmentally friendly investments.
The guarantee of 'Innovation and digitalization' of InvestEU has an amount of €65 million. This product will allow Banco Santander to continue supporting the growth of Spanish companies and companies from other European countries that operate in the field of research and development, as well as improve their access to financing. This initiative will also encourage the adoption of new digital technologies by companies in this segment.
“Banco Santander has a long history of collaboration with the EIF and we are very pleased to continue our efforts to help European SMEs successfully achieve the ecological and digital transition,” he declared. Marjut Falkstedt, CEO of the EIF. “This agreement, which has been made possible thanks to the InvestEU program, will facilitate access to financing for companies that invest in innovation, digitalization and sustainable projects, which are among the main drivers of economic development, growth and employment.”
Paolo Gentiloni, Commissioner for Economy, said: “Small and medium-sized businesses have long been a key source of growth in Europe. I am delighted that InvestEU is having a substantial impact in this context. This agreement will not only help these companies create jobs, but will also allow them to play a crucial role in contributing to a more sustainable, innovative and digital economy. Likewise, it will help unleash the full potential of Spanish companies for growth and employment in the green field.”
Banco Santander will deploy InvestEU guarantee products mainly through its teams in the Smart and Santander CIB Structured Finance Fund, offering flexible financing conditions to support high-growth SMEs in innovative sectors such as digitalization and sustainability, including e-commerce, energy technologies, renewable energy, energy efficiency, sustainable agriculture and the circular economy.
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