EIB Partners With Deutsche Leasing To Support Climate Investment For Smes
Date
10/21/2024 1:09:50 AM
(MENAFN- Trend News Agency)
BAKU, Azerbaijan, October 21. The European
Investment bank (EIB) and Deutsche Leasing have announced the
second tranche of a project aimed at supporting small and mid-sized
enterprises (SMEs) through leasing, Trend reports.
According to the bank, with a total project cost of 560 million
euros, this tranche involves 200 million euros in EIB financing, of
which 50 million euros was previously signed in February.
Under the cooperation program, Deutsche Leasing will finance
machinery and technologies that promote energy savings, low-carbon
mobility, and other environmental solutions, facilitating the green
transformation of SMEs and mid-caps in Germany and Eastern
Europe.
The focus of this second tranche is on climate investment, with
at least 30 percent of EIB funds allocated to support climate and
environmental initiatives. This includes financing for
energy-efficient industrial equipment and agricultural machinery,
as well as climate adaptation measures.
Leveraging its AAA credit rating, the EIB can secure favorable
terms in capital markets, passing these benefits on to SMEs and
mid-caps. This partnership aims to enhance long-term economic
growth and job security, supporting approximately 570 SMEs and
around 47,300 employees.
“SMEs and mid-caps are the backbone of our European economy,”
said EIB Vice President Nicola Beer.“Supporting them is one of the
core missions of the EIB. Together with financing partners like
Deutsche Leasing, we provide long-term, stable financing for the
Mittelstand to invest in innovative projects for the green and
digital transition and help foster European competitiveness.”
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