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Portugal SMEs to benefit from €400 million in loans

Portugal SMEs to benefit from €400 million in loans

>> WSBI member Montepio works with European Investment Bank 

>> Provide affordable loans for real economy

​​LISBOA, 24 April 2015 – Thanks to the cooperation between the European Investment Bank (EIB) and Portuguese ESBG-Member Caixa Económica Montepio Geral (Montepio), Portuguese companies working in productive sectors will benefit from affordable loans on favourable terms and low interest rates.

For this purpose, the European Investment Bank has granted a €200 million loan to Montepio to finance small and medium-sized projects mainly undertaken by SMEs. In addition, Montepio will provide another €200 million, so that the total amount available amounts €400 million. The EIB funds will be used to finance individual investment projects of up to €​25 million.

The majority of the loan will serve to finance investments promoted by SMEs but part of it could also be allocated to other entities promoting projects related to energy saving, environmental protection, research and development and infrastructure. 

>> Read the full document

SME finance; Capital Markets Union; European Institutions