(MENAFN- Trend News Agency) BAKU, Azerbaijan, October 17. The European Investment Bank (EIB) has approved a 45 million euro credit line to Slovak lender VÚB to support businesses and public entities pursuing projects that address climate change, Trend reports.

The initiative targets small and medium-sized enterprises (SMEs), Mid-Caps, and public organizations, particularly in Slovakia's cohesion regions, where per capita income falls below the European Union average.

Combined with matching contributions from VÚB and other funders, the program aims to mobilize at least 190 million euros in total investments, promoting growth, competitiveness, and a socially just transition to a carbon-neutral economy.

This financing represents the second and final tranche of a 95 million euro operation agreed with VÚB in October 2023. The program is focused on relatively small projects and on bolstering working capital for Slovak companies.

Zuzana Kaparova, head of the EIB office in Bratislava, highlighted the dual objective:“The EIB is delivering affordable finance to businesses and projects across Slovakia, helping ensure balanced economic and social growth. These are our two top priorities and we are proud to be advancing them in Slovakia.”

Around 90% of the credit line will support projects in Slovakia's cohesion regions, while at least 10% will fund climate-focused initiatives such as energy efficiency improvements and sustainable transport.

VÚB Chief Director of Corporate Banking Andrej Viceník said the operation reflects strong market demand:“Slovak businesses recognize the risks posed by climate change and are ready to act. Together with the EIB, we are protecting local enterprises, jobs, and livelihoods while strengthening the long-term sustainability of Slovakia's economy.”

The blended financing structure combines EIB funds with VÚB's own resources, offering beneficiaries favourable loan terms, including longer maturities and flexible interest rates.

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