The European Investment Bank and the Spanish banking group Banco Sabadell have signed on 9 October two agreements, aiming to provide funds for the self-employed, small and medium businesses and mid-caps in Spain to continue fostering economic growth and job creation in the country.

Under these agreements, the two institutions will provide €1 billion to support small and medium businesses that find it difficult to access finance, and to promote their digitisation investments. They will provide €800 million targeting micro-enterprises, start-ups and projects led by women in particular.

This is the EIB’s sixth agreement with Banco Sabadell under the EU bank’s dedicated credit line for small and medium-sized enterprises. A total of 3,500 businesses will be able to benefit from this initiative.