BAKU, Azerbaijan, November 29. The European Investment Bank (EIB) has announced 400 million euros in loans to support small and medium-sized enterprises (SMEs) and Mid-Cap companies in the Czech Republic and Slovakia, Trend reports.
The funding, divided equally between Komerční banka and SG Equipment Finance Czech Republic (SGEF), aims to stimulate economic growth, job creation, and environmental sustainability.
A portion of the financing is earmarked for climate action projects, including renewable energy and energy efficiency investments in transport, buildings, and machinery. More than 90% of the funding is expected to benefit less developed regions, promoting economic and social cohesion in both countries.
EIB Vice-President Kyriacos Kakouris emphasized the importance of SMEs and Mid-Caps to the European economy, stating, “Through our partnership with Komerční banka and SGEF, we provide long-term, stable financing for innovative projects that drive green and digital transitions, strengthening Europe’s competitiveness.”
The loans will also facilitate housing cooperatives and associations in improving energy efficiency in residential buildings. David Formánek of Komerční banka highlighted the collaboration’s impact, noting it provides favorable financing to support economic development in the Czech Republic.
Petr Němec of SGEF praised the long-standing partnership with the EIB, which has delivered billions of euros in financing, positively influencing growth and sustainability in the region.
These loans build on a history of collaboration, with the EIB having provided 2.1 billion euros to SGEF since 2005 and 1.2 billion euros to Komerční banka since 2006.