Press Release: EIB-Banco Popolare agreement: EUR 200m for SMEs and EUR 100m for local authorities

On 11 June, 2006, the European Investment Bank and Banco Popolare signed an agreement for the allocation of a total of EUR 300m divided into two credit lines: EUR 200m to finance SMEs’ investment projects and initiatives in the industrial, services and tourism sectors; and EUR 100m to support public entities and utilities. Under this partnership, EIB funds earmarked for SMEs will be distributed through the branches of the Banco Popolare Group’s network to enterprises with fewer than 250 employees via medium-term loans under the following terms: up to EUR 12.5m per project, maturity of up to 12 years, and fixed or floating interest rate. This operation will help to provide new funding for enterprises, which will be able to access affordable capital with which to undertake business development programmes. Thanks to this initiative, Banco Popolare will be able to access additional flexible resources easily and quickly in order to offer concrete support to SMEs against the backdrop of the current financial crisis.