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EIB, UniCredit sign EUR30m financing deal.

Global Banking News-1 December 2009-EIB, UniCredit sign EUR30m financing deal(C)2009 ENPublishing - http://www.enpublishing.co.uk

Global Banking News - 01 December 2009(c)2005 - Electronic News Publishing - http://www.enpublishing.co.uk

European Investment Bank (EIB) and Italy's UniCredit SpA (UCG.MI) (OTCBB: UNCFF) (CRDI.MI) (CRDI.F) (CRDI.WA) (LSE: UNC) have said that they have signed an EUR300m finance contract aimed at small and medium-sized enterprises.

The agreement is part of the European Union's policy that EIB is implementing in cooperation with banking groups aimed at improving small businesses' access to credit as Europe emerges from the economic crisis.

EIB funds will be accessible to small businesses via UniCredit's unit UniCredit Leasing. EIB said that through UniCredit Leasing's lease financing schemes it will be possible to finance up to 100 percent of the total value of projects, with a cap of EUR12.5m per project.

Further agreements with EIB in support of the network in Austria, Germany, Poland and elsewhere in Europe will be concluded shortly, EIB said.

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Publication:Global Banking News (GBN)
Date:Dec 1, 2009
Words:193
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