OREANDA-NEWS.  With a EUR 50 million loan, the European Investment Bank (EIB), in cooperation with BPI, will finance projects with a particular emphasis on the agriculture and agri-food sector carried out by small and medium-sized enterprises (SMEs). The finance contract was signed in Lisbon today with the participation of EIB Vice-President Rom?n Escolano and the CEO of Banco BPI, Fernando Ulrich.

Apart from SMEs, mid-cap companies with up to 3 000 employees will also be eligible for the loans under this facility, which aims to promote lending, ensure funding and extend coverage to SMEs and mid-caps in rural areas, operating mainly in the field of agriculture.

The EIB’s funds will finance projects primarily in the agriculture and agri-food sector and projects in rural areas along the entire value chain; it is expected that the majority of SMEs receiving assistance will be in convergence regions.

The loan is fully consistent with the EIB’s renewed policy focus on the agriculture and agri-food sector. The EIB funds will contribute to strengthening the productivity and competitiveness of SMEs and increasing employment in Portugal.

This first loan to BPI specifically for financing SMEs in the agriculture sector will further improve BPI’s credit offer to the sector. It complements other EIB credit lines to BPI and reinforces the long standing cooperation between the two institutions.