Brussels, 07/12/2010 (Agence Europe) - On Tuesday 7 December, the European Investment Bank (EIB) decided to grant a €300 million loan to BNL Gruppo BNP Paribas for the medium and long-term funding of small and medium-term enterprises in Italy. Under the loan agreement, BNL undertakes to provide its own resources to recipient SMEs, thus increasing the ceiling of amounts made available for supporting the Italian economic system. It will be up to the BNL through its network of agencies in Italy to select investment projects and, on the basis of this, to carry out evaluation and distribution of loans. Funding will go to SME projects not exceeding €25 million in industry and in services. EIB resources may cover up to 100% of the cost of a project, with a maximum of €12.5 million per project. Instruments used will be either long-term loans or financial or real-estate leasing. It is planned that part of the funding will be intended for the southern regions of Italy. (O.L./transl.jl)