The European Investment Bank (EIB) is providing a credit line of €30m (£22.9m) to Slovakian lessor VÚB Leasing to finance projects implemented by SMEs and Mid-Caps.

"The loan is being provided on favourable terms ensuring that clients can invest in regional development, SME and Mid-Cap development and potential expansion, environmental projects and the advancement of the knowledge-based economy," the EIB wrote.

The EIB said the financing can be set up as a financial or operating lease as well as a loan.

This operation is the second direct credit line between the two institutions, which have already established a long-term relationship through the parent company of VÚB Leasing, Všeobecná úverová banka. A previous loan of €50m has been successfully allocated to support undertakings in Slovakia’s SME and Mid-Cap sector.