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News > World

BNL secures €250m to finance SMEs

Tom Belger | 07:25 Friday 23rd June 2017

The European Investment Bank (EIB) has provided BNL Gruppo BNP Paribas with a total of €250m to finance SMEs .

The funding has come via two agreements:

• €200m, which can be used either by SMEs or – for a maximum share of 30% – by publicly owned companies of any size

• €50m for research and innovation investments by SMEs and midcaps.

Miguel Morgado, director for Italy at EIB, said this continued a beneficial relationship with BNL Gruppo BNP Paribas.

“It pairs financial resources with favourable terms and an extensive presence on the ground, stimulating wealth-generating investments that create jobs and promote innovation and environmental protection.'

The funds made available by the EIB dedicated to SMEs are aimed to support businesses across all productive sectors of industry, tourism and services to financial investment.

“By working with the EIB, BNL is underlining its support for Italy's many economic players, recognised internationally for the quality and sustainability of their products – the result of a consistent emphasis placed on research and innovation,' added Regina Corradini D'Arienzo, head of corporate banking at BNL.

Financing for SME and midcap investment projects worth up to €25m can be covered up to 100% of the costs, while for publicly owned companies, EIB financing cannot exceed 50% of project/investment costs.

Loans will be for a maximum amount of €12.5m with a term of up to six years (seven years for research and innovation loans).

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