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Thursday, January 23, 2020

EIB Group lends record amount to small and medium businesses in 2016

EU Bank has contributed significantly to job and small business growth by supporting projects that help the environment, innovation and infrastructure, bank President Werner Hoyer said recently.

“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."

Organizations in this Story

European Investment Bank

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