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Tuesday, 13 October 2009

EIB 'will not play the role' of commercial banks

The European Investment Bank (EIB) may be dolling out billions of euros in loans to small businesses, but it has no intention of behaving like a commercial bank, Philippe de Fontaine Vive, EIB vice-president, told EurActiv France in an interview. He said that although all independent European firms with fewer than 250 employees are eligible for an EIB loan, the bank is still relatively unknown in EU countries. Since the financial crisis broke, the EIB has ramped up its funding for small and medium-sized businesses in an effort to keep firms afloat during the credit crisis. However, there have been claims that this funding stream has been ignored by some of the commercial banks with which the EIB has partnered.

Source: Euractiv