The European Investment Bank (EIB) of Spain is joining forces with Banco de Sabadell to expand its capacity to lend to small and medium-sized enterprises (SMEs) and mid-caps hit by the economic impact of the COVID-19 pandemic. To this end, the EIB will provide €300 million in financing to enable the Spanish bank to mobilise a total of €600 million over the next two years.
The operation is taking place under the European Fund for Strategic Investments (EFSI), the main pillar of the Investment Plan for Europe.
In particular, the agreement between the EIB and Sabadell under EFSI aims to promote investment by facilitating access to finance by SMEs and mid-caps, which are the backbone of the Spanish economy in terms of growth and jobs.
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Resource : http://www.eib.org/en/press