EIB to lend EUR 5.6 billion to SMEs for ivestments in innovation in 2014
The Board of Directors of the European Investment Bank (EIB) recently approved loans of EUR 5.6 billion to small and medium-sized enterprises (SMEs) and mid-caps investing in R&D and innovation in 2014. In the field of innovation and broadband infrastructure the Board approved loans for projects worth up to EUR 1.4 billion to strengthen the competitiveness of European business. This includes a loan of up to EUR 750 million for the roll-out of high-speed public broadband telecommunication networks throughout France. Another example is the loan of up to EUR 100 million to Gruppo Sorin for financing research and development activities in the fields of cardiac surgery, rhythm management and innovative medical devices addressing heart failure. Regarding other key priorities of the bank, loans of up to EUR 700 million were approved for strategic infrastructure projects. Up to EUR 455 million will go to the area of renewable energy.