This first EIB operation with EXIMBANKA SR targets in particular small and medium-sized businesses
The European Investment Bank (EIB) has agreed to lend EUR 50m to EXIMBANKA SR to finance projects promoted by export-oriented small and medium-sized businesses in Slovakia. As the country’s national export financial institution, EXIMBANKA SR contributes to the implementation of the Slovak Government’s economic development policies by supporting exports.
Board Chairman and CEO of EXIMBANKA SR Monika Kohútová stated: “The EIB loan will promote export opportunities of Slovak small businesses and Mid-Caps through improving their access to medium-and long-term funding. Such funding is necessary to support investment plans aimed at reaching international markets. This is fully in line with the EXIMBANKA SR ´s strategy. As of today, we have a number of SME and Mid-Caps projects in our pipeline that would be eligible for EIB financing. “
EIB Vice-President Vazil Hudák commented: “Financing of SMEs is close to the EIB’s heart. EXIMBANKA SR is now a new partner of the EIB and together we will further support SMEs and Mid-Caps - key players in the Slovak economy in terms of employment and economic growth”.
With this transaction, the EU bank inaugurates its cooperation with EXIMBANKA SR. This partnership also brings the number of financial intermediaries in Slovakia working with the EIB to eight – a sign of a well-developed cooperation between the EU bank and the local banks.
The European Investment Bank (EIB) is the European Union's bank. It is the long-term lending institution of the EU and is the only bank owned by and representing the interests of the EU Member States. It makes long-term finance available for sound investments in order to contribute towards EU policy goals. The EIB works closely with other EU institutions to implement EU policy.
As the largest multilateral borrower and lender by volume, the EIB provides finance and expertise for sound and sustainable investment projects which contribute to furthering EU policy objectives. More than 90% of EIB activity is focused on Europe but it also supports the EU's external and development policies.