Swedish SMEs boosted by EIB loan
The European Investment bank (EIB) is to provide loan financing of 45 million euro for investments by small and medium sized enterprises (SMEs) in Sweden. The EIB finance will support SME projects in industry and infrastructure, particularly those focusing on environmental protection, advanced technology, rational use of energy sources, health and education. The financing was agreed under a Global Loan agreement with Swedbank. The scheme allows the EIB to make medium and long term credit facilities available to financial intermediaries in each EU Member State. The intermediaries select the projects based on agreed criteria. 'The EIB welcomes this opportunity to increase our collaboration with Swedbank,' said EIB Vice President Ewald Nowotny. 'This EIB/Swedbank Global Loan will, in addition with other EIB Global Loans currently in place with other Nordic institutions, widen SME access to medium and long term financing throughout the region.'