EIB Group lends record amount to small and medium businesses in 2016
“At a time of uncertainty the EIB Group has shown that a truly European approach to investment is bearing fruit,” he said in Brussels. “Recovery is still slow. 2017 must see a real stepping-up of reform. We need to ensure that investment is not being held back by unnecessary regulatory bottlenecks. There can be no business as usual.”
Hoyer spoke on the latest results for the EIB Group, which is made up of the European Investment Bank and the European Investment Fund (EIF). He said the groups financed small and medium businesses for a record amount of more than $35 billion last year. During 2016, the EIB Group supported 300,000 companies that collectively employ more than 4.4 million people.
“In many parts of Europe, SMEs still lack access to finance. SMEs are the true backbone of the European economy," Hoyer said. "They are the ones that create jobs; their capacity for innovation and flexibility makes them crucial for Europe’s competitiveness and for the well-being of its citizens."