European Investment Bank grants €300m guarantee to BBVA
The European Investment Bank (EIB) and BBVA have concluded a deal to provide financing for Spanish small and medium-sized enterprises.
Under the terms of the agreement, the EIB has granted a €300 million guarantee to BBVA, of which €150 million is backed by European Commission's Investment Plan for Europe (known as the ‘Juncker Plan’).
This programme enables the EIB to finance projects with a higher risk profile.
The agreement between the two financial institutions will enable BBVA to provide €600 million to support investments in small and medium-sized enterprises located in regions of Spain with high unemployment
A Madrid-based King & Wood Mallesons (KWM) team advised the European Investment Bank on the granting of the guarantee.
The KWM team was led by partner Joaquín Sales (pictured), and included senior associate María Redondo and associates Juan Luis García and Ignacio Goicoechea.
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