Brussels, 09/11/2012 (Agence Europe) - On 8 November, the European Investment Bank (EIB) decided to renew its support for small and medium-sized enterprises (SMEs) and for mid-sized companies (mid-caps) with a €150 million loan to Akbank T.A.S.
The EIB loan will support investments in tangible or intangible assets, as well as working capital. Investments will be made in new projects or the modernisation/expansion of existing businesses, mainly in the fields of manufacturing, services and tourism. The operation will allow Akbank to further improve the conditions offered to the final beneficiaries, especially in terms of the maturity of the loans provided. SMES can receive loans for projects costing less than €25 million, whereas mid-caps can do so for projects costing up to €50 million. (OL/transl.jl)