Microfinance Focus Europe, 10 September 2013: The European Investment Bank (EIB) launched two loans along with EU grant subsidies for the support of energy efficiency promoted by SMEs in the Czech Republic. 100 million euro will go toward Raiffeisenbank a.s. and 50 million euro will go toward Česká Spoířtelna a.s.
The funds will also be used in support of other projects undertaken by SMEs and Mid-Caps. They are part of the Green Initiative, which involves EU grants totaling 25.2 million euro provided by the European Commission.
The loans are part of the EIB’s goal of providing long-term finance for SMEs, supporting growth and enhancing competitiveness.
The EIB is the long-term lending institution of the European Union. It is owned by the EU member states.