The European Investment Bank (EIB) and DLL have set up a €200m (£175m) leasing pipeline for Spanish SMEs.

The EIB has provided a €100m loan to DLL, who will channel another €100m themselves.

The financing will target SMEs and mid-caps in Spain, with a special focus on the farming, agri-food and construction sectors. Projects worth under €25m will have their costs fully covered, with the EIB contributing with a maximum loan of €12.5m per project.

EIB vice president Román Escolano said: Supporting SMEs is one of the EIB’s top priorities. We are therefore delighted to be signing an agreement to provide funding to small and medium-sized Spanish businesses … Thanks to this loan, SMEs and mid-caps will be able to access new credit lines for financing the necessary investment to continue growing their business and thus create jobs”.

DLL’s general manager for Spain and Portugal, Álvaro Zafra, added: “Since its arrival in Spain more than 20 years ago, DLL has always placed its faith in the variety of Spain’s business fabric. With this agreement with the EIB, we are continuing in our mission of financing our customers’ assets and fostering their growth and development.”

DLL and parent Rabobank have collaborated with the EIB through similar agreements before, most recently with another €200 partnership for Irish firms.