Spain’s Banco Sabadell and the European Investment Bank (EIB)
have signed an agreement to open a €200 million credit line to
Spanish SME-sized firms.
The agreement covers both loans and leasing contracts to meet
the financial needs of local small and medium-sized companies for
investments in fixed assets to cover the costs of financing needed
to ensure their growth.
The agreement follows a larger plan approved by the EIB in
September to earmark €15 billion over the period 2008-2009 for
loans to SMEs throughout Europe granted via commercial banks and
their leasing subsidiaries.