The European Investment Bank Group and the Spanish commercial bank Banco Santander announced on 30 October a new funding of €1.9 billion to Spanish small and medium-sized enterprises and mid-caps.

The goal of both institutions is to support Spanish companies by offering them financing with favourable conditions, in terms of both interest rates and maturity periods, to foster economic growth and employment. Some of the funds will be granted with the support of the Investment Plan for Europe, or the Juncker Plan.

The agreements will also make it possible to provide €1 billion to business owners that need to renew their vehicles with more efficient and environmentally friendly vehicles, including via leasing. These funds will help secure 250,000 jobs.

The European Investment Bank Group is composed of the European Investment Bank and European Investment Fund. It uses its financing operations to bring about European integration and social cohesion.