Small and medium-sized enterprises will benefit from the latest decision by the European Investment Bank. The agency intends to streamline funding mechanisms, especially its Global Loans, to make them friendlier to the SME sector. “It is clear that the market alone is unable to provide sufficient and appropriately priced finance for SMEs, in particular for high-growth, innovative businesses,” a statement by EIB President Philippe Maystadt read. “The EIB Group will seek to address gaps in the market by broadening the scope of its financing.” The bank will release details of its new approach later this year.
Source: European Investment Bank broadens support for SMEs (Xinhua)