InvestEU: EIF and Banco Sabadell provide over €300 million to support small businesses and renewable energy sector companies

The European Investment Fund (EIF), part of the European Investment Bank (EIB) Group, and Banco Sabadell are joining forces once again to support Spanish small businesses (SMEs) and mid-caps. The EIF is providing a €101 million guarantee to Banco Sabadell, enabling the Spanish bank to mobilise financing of up to €336 million. This is one of EIF’s first agreements in Spain under the InvestEU guarantee programme, and will support early-stage technology companies (venture capital), high-growth small businesses and renewable energy sector companies.

European Commissioner Paolo Gentiloni added: “InvestEU is playing an important role across Europe in helping small and medium-sized businesses gain access to the finance they need to innovate, expand and create jobs. I am delighted that, thanks to this agreement, many more Spanish businesses will receive the support they need to fulfil their potential.”

The InvestEU programme provides the EU with long-term funding by leveraging private and public funds in support of EU policy priorities, such as the European Green Deal and the digital transition. The InvestEU Fund is implemented through financial partners who will invest in projects using the EU budget guarantee and thus mobilising at least €372 billion in additional investment.

Source: European Commission