The EU on Friday signed an agreement sealing its commitment to support small and medium Maltese enterprises with an additional €28 million in a bid to set off the economic blow brought about by the COVID-19 pandemic.
The EIB Group, made up of the European Investment Bank and the European Investment Fund, signed an agreement with the Maltese government and the European Commission to increase financing available under a programme known as the SME Initiative.
So far, through the SME Initiative in Malta, Bank of Valletta and BNF Bank have assigned a target portfolio of nearly €90 million for new SME financing in the form of loans.
A lifeline for Baltic SMEs
December 17, 2020
Up to 660 million euros of new lending is set to be made available to the SMEs in the Baltic states thanks to a deal between the EIB Group and local financial services provider Luminor.
The EIB Group, consisting of the European Investment Bank (EIB) and the European Investment Fund (EIF), has issued a guarantee to financial services provider Luminor to support new lending to companies based in the Baltic states, Estonia, Latvia and Lithuania. The facility is meant to help mitigate the impact of Covid-19 on the Baltic economies.
Through a synthetic securitisation transaction – the first of its kind in the Baltics – between Luminor and the EIB Group (with support from the Investment Plan for Europe), Luminor will provide additional lending to small and medium-sized enterprises (SMEs) and Mid-Caps in these difficult economic conditions.
MIL-OSI Europe: Slovakia: EIB Group and Slovenská sporitelňa (SLSP) join forces to support SMEs and mid-caps impacted by COVID-19 foreignaffairs.co.nz - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from foreignaffairs.co.nz Daily Mail and Mail on Sunday newspapers.
EIB and SLSP sign €49m agreement to support SMEs and mid-caps in Slovakia
This operation is backed by the European Fund for Strategic Investment (EFSI), the central pillar of the Investment Plan for Europe under which the EIB and the European Commission are working together to boost the competitiveness of the European economy.EIB | Bratislava | Updated: 17-12-2020 17:24 IST | Created: 17-12-2020 17:24 IST
This is the first time that a synthetic securitisation is implemented in Slovakia and as such, EIB Group is presenting to local lenders an alternative instrument for capital management. Image Credit: Twitter(@EU Commission)
The European Investment Bank (EIB) and the European Investment Fund (EIF) signed a €49 million guarantee with Slovenská sporitelňa (SLSP), the largest financial institution in Slovakia, to support SMEs and mid-caps impacted by the COVID-19 pandemic.
EIF, Raiffeisenbank Serbia sign loan guarantee deal to back SMEs Author: Raiffeisen Bank International. License: All rights reserved.
BELGRADE (Serbia), December 17 (SeeNews) - Raiffeisenbank s Serbian unit has signed a 60 million euro ($73.4 million) loan guarantee agreement with the European Investment Fund (EIF) to support local small and medium-sized businesses, EIF said on Thursday.
The loan guarantees are provided by the Competitiveness of Small and Medium-sized Enterprises (COSME) programme, launched by the European Commission to improve access to finance for SMEs, and will allow Raiffeisenbank Serbia to offer a new, more flexible credit line with increased maturities and fewer collateral requirements to finance working capital and investments, EIF said in a statement.