Czech And Slovak Businesses To Benefit From EIB Climate-Driven Investments
Date
11/29/2024 3:08:03 PM
(MENAFN- Trend News Agency)
BAKU, Azerbaijan, November 29. The European
Investment bank (EIB) has announced 400 million euros in loans to
support small and medium-sized enterprises (SMEs) and Mid-Cap
companies in the Czech Republic and Slovakia, Trend reports.
The funding, divided equally between Komerční banka and SG
Equipment Finance Czech Republic (SGEF), aims to stimulate economic
growth, job creation, and environmental sustainability.
A portion of the financing is earmarked for climate action
projects, including renewable energy and energy efficiency
investments in transport, buildings, and machinery. More than 90%
of the funding is expected to benefit less developed regions,
promoting economic and social cohesion in both countries.
EIB Vice-President Kyriacos Kakouris emphasized the importance
of SMEs and Mid-Caps to the European economy, stating,“Through our
partnership with Komerční banka and SGEF, we provide long-term,
stable financing for innovative projects that drive green and
digital transitions, strengthening Europe's competitiveness.”
The loans will also facilitate housing cooperatives and
associations in improving energy efficiency in residential
buildings. David Formánek of Komerční banka highlighted the
collaboration's impact, noting it provides favorable financing to
support economic development in the Czech Republic.
Petr Němec of SGEF praised the long-standing partnership with
the EIB, which has delivered billions of euros in financing,
positively influencing growth and sustainability in the region.
These loans build on a history of collaboration, with the EIB
having provided 2.1 billion euros to SGEF since 2005 and 1.2
billion euros to Komerční banka since 2006.
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