Brussels, 09/01/2012 (Agence Europe) - The European Investment Bank (EIB) and BNP Paribas Fortis signed a new partnership agreement on Monday 26 December on a €150 million EIB loan for Belgian small and medium-sized enterprises (SMEs) following strong demand from small businesses, which has meant that nearly all the loans granted in August 2009 and December 2010 have now been allocated. Building on the previous two operations, branches of the BNP Paribas Fortis network will on-lend the EIB funds in loans to SMEs to support their investment projects.
The “EIB Loan for SMEs” product takes the form of a credit line that BNP Paribas Fortis deploys for small businesses with fewer than 250 employees across a wide range of economic sectors eligible for EIB financing. The projects financed have to be carried out within the European Union and are capped at €25 million each. They may not consist of refinancing or purely financial or property transactions. This new EIB-BNP Paribas Fortis financing facility follows on from previous loans totalling €300 million deployed in 2009, 2010 and 2011 in support of projects carried out by small Belgian businesses.
In addition, BNP Paribas Fortis is one of four Belgian banks that have received an EIB loan in order to help finance the upgrading or construction of medium-scale hospital infrastructure selected by the competent regional and federal authorities. This €50 million loan will also enable BNP Paribas Fortis to offer its customers long-term resources in a challenging economic climate and on more favourable terms than those of the market. (OL/transl.rt)