European Investment Bank continues to support SME and mid-cap projects in Slovenia Published on: 06/11/2013
The European Investment Bank (EIB) is lending EUR 50 million to Banka Sparkasse d.d. to finance projects of SMEs, mid-caps and public sector entities in the areas of the knowledge economy, energy, environmental protection, health and education.
The first instalment of the loan is EUR 30 million.
The loan is in line with the EIB’s lending priority of improving - particularly in Slovenia - the tight financing conditions for the SME sector, which is of significant importance for the Slovenian economy as it represents an engine of growth and innovation in the country.
This is the first EIB intermediated loan provided to Banka Sparkasse d.d., increasing the number of EIB partner financing institutions on-lending EIB funds in Slovenia. Through its cooperation with Banka Sparkasse, a well-established financial institution in Slovenia, the EIB is ensuring that the benefits of granting loans on favourable terms are passed on to eligible beneficiaries.
The EIB has so far provided credit lines in Slovenia for co-financing projects promoted by SMEs and mid-cap companies in the total amount of some EUR 1.5 billion representing approx. 30% of the Bank’s lending commitments in Slovenia since the start of EIB operations in the country in 1991.
This intermediated loan is being extended under the Joint IFI Action Plan for Growth in Central and South Eastern Europe, which is focused on providing better access to long-term finance for Europe's SMEs in order to mitigate the effects of the financial crisis. Those funds will support growth by enhancing long-term competitiveness through increased availability of long-term credit.
The European Investment Bank is the long-term lending institution of the European Union and is owned by the EU Member States. It makes long-term finance available for sound investment in order to contribute towards EU policy goals.
Banka Sparkasse belongs to the group of Erste bank and Sparkassen, forming part of the Erste Group, which operates in more than 20 countries of Central and South-Eastern Europe, services over 17 million customers and employs about 50,000 people. Banka Sparkasse has a solid backing in its owners, Kärntner Sparkasse AG, Klagenfurt (70 % interest), Steiermärkische Bank AG, Graz (2 6% interest), and Erste Bank, Vienna (4 % interest). On the Slovenian market, the Bank enjoys strong support, ensuring it a sound liquidity and capital structure.