European Investment Bank Provides Eur 80 Million for Green Car Technology Development

The European Investment Bank (EIB) is providing four credit lines loans totalling EUR 380 million to the Slovene Export and Development Bank (SID).

Mrs. Marta Gajęcka, EIB Vice-President responsible for lending in Central Europe, including Slovenia, commented:

EIB long-term finance is particularly aimed at small and medium-sized companies and automotive suppliers, which are increasingly suffering from the lack of liquidity due to the current crisis. This will contribute to the implementation of the anti-crisis measures by the Government of the Republic of Slovenia.

The EIB intermediated loans cover:

The loan of EUR 150 million will co-finance small and medium size projects implemented by SMEs. This is a new generation of intermediated loans in line with the EIB’s priority of strengthening its support for Europe’s SMEs and helping to reduce the impact of the current credit crisis by improving the access of SMEs to medium and long-term funds on advantageous financial terms. As part of this, the Bank is also simplifying its procedures and broadening the scope of its financing. In addition, it is increasing transparency by working towards a more effective transfer of the advantage of EIB funds to final beneficiaries.

The EUR 80 million loan will support investments of automotive suppliers focused on the development of new generation vehicle technology and car emissions reduction. It will provide long term finance to RDI activities of Slovenian companies in accordance with the EIB’s transport policy. This is the first intermediated loan provided by the EIB to finance projects of automotive suppliers.

The credit line of EUR 100 million will co-finance infrastructure projects of Slovenian local authorities, further strengthening EIB support to municipal investments.

The EUR 50 million loan will support projects aiming at environment protection and improvement.

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