EIB and Eurobank sign new EUR 150 million loan agreements

The European Investment Bank (EIB) and Eurobank signed a EUR 100 million new loan agreement to finance eligible investment projects undertaken by small and medium sized enterprises and MidCaps operating in Greece and a new EUR 50 million loan agreement to finance, through Eurobank Leasing, SMEs and MidCaps that wish to lease equipment and premises.

The new loans, which shall be, immediately, made available by Eurobank to companies with the objective of being fully absorbed by the end of 2018, is within the framework of the EIB’s EUR 1 billion “Loan for SMEs and MidCaps” credit line to Greek banks. Under this program, Eurobank has already signed two more loan agreements summing up to EUR 250 million in total that have already been made available and fully absorbed by the eligible companies.

Through this credit line, SMEs and MidCaps active in agriculture, tourism, manufacturing, services and other sectors obtain financing in the form of investment loans and working capital at favorable pricing terms.

As was the case with the previous financing agreements signed with Eurobank, the latest loan agreement also incorporates the EIB’s “Skills and Jobs – Investing for Youth” initiative, offering more favorable pricing terms to enterprises that promote youth employment.

Mr. Fokion Karavias, Eurobank CEO said: “Eurobank further expands its successful, long-term cooperation with the European Investment Bank, strengthening its strategy for the support of small & medium-sized enterprises and mid-caps operating in Greece with advantageous lending. The new agreements will be another valuable asset for Eurobank in its ongoing effort to contribute to the financing of sound and sustainable investment projects and the recovery of the real economy, to the highest possible extent".