Member News: EIB Provides €100 Million Loan to Crédito Agrícola to Support SMEs
SME Finance Forum member, European Investment Bank (EIB) will supply €100 million loan to Crédito Agrícola (CA) to support access to credit for SMEs in Portugal.
A total of €200 million will be available for SMEs due to CA matching EIB’s funds of €100 million. According to the release, EIB will finance up to 100 percent of the total project cost for SMEs and mid-caps and up to 50 percent for other types of projects.
“The important contribution of this agreement to fostering economic growth and job creation in Portugal,” said EIB Vice-President Emma Navarro. SMEs are fundamental for employment in the country and financing them is one of the EIB’s priorities. With this new agreement, the EIB and CA are joining forces to ensure that small and medium-sized Portuguese companies, many of them operating in the agricultural sector, will benefit from EIB funding with financial advantages and longer tenors.”