The European Investment Bank (EIB) and Banca March have renewed their commitment with the signing of an agreement by which Banca March will make up to 300 million euros available to Spanish companies with 250 to 3,000 employees in new financing. EIB provides institutional guarantee for 50% of said amount.
The objective of this agreement is promote and accelerate private sector investment and offer solutions to the working capital and liquidity needs of Spanish mid-cap companies – many of them family businesses, which are the strategic focus of Banca March -, thus facilitating access to financing under attractive conditions in an environment marked by high interest rates. It is planned that at least 35% of the investments will be carried out in regions with a per capita income lower than the EU average, which will contribute to improving competitiveness and cohesion between regions, one of the strategic priorities of the EIB Group.
“The EIB joins forces with Banca March again to take another step in the development of attractive credit solutions adapted to the needs of Spanish mid-cap companies,” commented Gemma Feliciani, Director of Financial Institutions at the EIB. “This agreement is a new example of public-private collaboration to contribute to the competitiveness of a key business segment for economic growth and employment in the country”.
The agreement is framed, on the one hand, in the EIB’s actions aimed at financing SMEs and mid-cap companies and, on the other, in Banca March’s commitment to provide its financing capacity, all in line with the priorities of the EU and with the objective of both institutions to contribute to increasing the competitiveness of the business fabric of the Union. The CEO of Banca March, José Luis Acea, stated: “As a bank specialized in advising companies, business families and family businesses, This agreement reflects our permanent commitment to facilitating Spanish companies’ access to financing. hand in hand with European reference institutions, so that they can play their role as crucial economic and social drivers in the areas of their influence.
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