EIF, UniCredit in deals on financing billion euro of investments by SMEs in seven CEE countries

The European Investment Fund (EIF) is providing UniCredit Group with two guarantees worth 370 million euro to boost investments carried out by small and medium-sized businesses (SMEs) across seven EU countries: Bulgaria, Croatia, Czechia, Hungary, Romania, Slovakia, and Slovenia, the European Commission said on May 10.

The transactions are backed by the InvestEU programme.

The European Commission said that these guarantees would enable UniCredit to provide loans at favourable conditions to 2500 SMEs and small mid-caps across Europe and mobilise investments of about a billion euro in support of the real economy.

The resources will be primarily dedicated to investments that contribute to the green and digital transition, but also to boost the cultural, educational, and social sectors.

As part of UniCredit’s green lending strategy, loans will also be provided to housing associations and individuals for their renewable energy and energy efficiency investments in residential buildings, as well as to promote the development of sustainable mobility.

Paolo Gentiloni, European Commissioner for Economy, said: “InvestEU is a key instrument for supporting SMEs and small mid-caps across Europe.

“Thanks to this agreement, businesses in Bulgaria, Croatia, Czechia, Hungary, Romania, Slovakia, and Slovenia will be able to accelerate their transition towards a greener and more digital economy, for instance with investments in the energy efficiency of residential buildings,” Gentiloni said.

(Photo: Willie Cloete/freeimages.com)

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