COVID-19: EIB Group and BBVA provide €1.423 billion for SMEs and mid-caps affected by the crisis
(WorldNews Spain)

The European Investment Bank (EIB) Group and BBVA are set to join forces to support Spanish small and medium-sized enterprises (SMEs) and mid-caps affected by the COVID-19 crisis, signing two agreements to provide total financing of €1.423 billion. The EIB will grant €450 million to BBVA, which will in turn add a further €450 million, bringing the financing made available to the SMEs and mid-caps in question to €900 million. In addition, the EIB Group - via the European Investment Fund (EIF), its subsidiary specialising in venture capital for SMEs - has provided BBVA with an €87 million guarantee for an SME loan portfolio via synthetic securitisation. This agreement will enable BBVA to...