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EIB grants first loans to SMEs in France


The European Investment Bank plans 200 billion support for small businesses in Europe. Crédit Mutuel Alliance Federal is the first French bank to participate in the program.

Europe wants to move quickly to help small and medium-sized enterprises overcome the crisis linked to the Covid-19 pandemic. “The fall in investment poses a real threat because corporate incomes have dropped significantly. The decline could be even greater than in 2008, explains Ambroise Fayolle, vice-president of the European Investment Bank (EIB). It is important to act quickly to help companies get out of the crisis. Europe is fully mobilized to help them and support the investments essential for their competitiveness. ”

The European Investment Bank therefore set up a guarantee fund of 25 billion euros in May, which should make it possible to raise 200 billion euros.

Attractive loans

The mechanism provides for a leverage effect based on the European Union guarantee, which enables the multiplication of public and private funds. "This program consists for the EIB in financing banks under particularly favorable conditions to enable them

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Source: lefigaro

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