BAKU, Azerbaijan, February 26. The European Investment Bank (EIB) has approved a 100 million euro financing package for Luzaro to support small and medium-sized enterprises (SMEs) and mid-caps in the Basque Country, Trend reports.
The first 25 million euro tranche was signed in San Sebastián by Gemma Feliciani, EIB Director of Financial Institutions, and Elena Urbizu, Managing Director of Luzaro, during an event marking new collaboration agreements with the Basque government and the EIB.
The financing, backed by the Basque government, aims to mobilize over 280 million euros in investment and provide favorable credit conditions to more than 1,000 Basque businesses. This agreement builds on the ongoing partnership between the EIB and Luzaro, bringing the total financing for Basque SMEs to 350 million euros.
Gemma Feliciani emphasized the EIB's commitment to supporting the Basque business sector, enabling growth, innovation, and job creation. Elena Urbizu noted that the financing will allow Luzaro to expand its lending capacity, promoting business development in the region through public-private collaboration.