Brussels, 03/02/2012 (Agence Europe) - On Thursday 2 February, the European Investment Bank (EIB) granted a €100 million loan to Sociedad de Desarrollo de Navarra, S.A. (SODENA), a company majority-owned by the government of Navarra, for financing the investment projects of small and medium-sized businesses under the “Moderna Plan” - a regional programme designed to update Navarra's growth model. The EIB loan will mainly serve to finance projects in the industry and services sectors and RDI. This is the first installment of a total loan of €250 million.
The EIB funds will support the strategic sectors identified in the Moderna Plan by co-financing investment projects promoted by SMEs (at least 70%) and public entities (up to 30%). Under the agreement, SODENA will pass on the funds to national and regional intermediary banks, which will then on-lend them to the final beneficiaries. To be eligible, projects will have to bear the “Moderna” stamp granted by the Moderna Foundation. (OL/transl.fl)