The EIB increases its commitment to SMEs

On 19th November the Board of Directors of the European Investment Bank (EIB) approved loans for a total of 4,31 billion euro for SMEs and mid-cap companies, which bring total EIB support to 21,1 billion euro for 2013. The Council has also approved loans up to 1,43 billion euro to strengthen the competitiveness of the European economy, through projects in the fields of research, development and innovation; supplementary 3,24 billion euro will be used to promote strategic infrastructure throughout Europe; and, finally, 1,3 billion euro will be allocated to projects for resource efficiency. Thanks to the approval of other 16 operations, the EIB allowed the European Investment Fund to take commitments for further 285 million euro, which should have a leverage effect up to € 900 million of capital for SMEs.