The European Investment Bank (EIB) has granted a EUR300mn loan to novobanco to facilitate the financing of projects undertaken by SMEs (firms with up to 250 employees), MidCaps (firms with up to 3,000 employees) and Public Sector Entities (PSEs). The loan agreement was signed in Lisbon. The EIB loan will help address the working capital, liquidity needs and investment constraints of SMEs, MidCaps and PSEs, currently facing an energy crisis, soaring inflation and rising interest rates, which could severely set back the emerging post-pandemic economic recovery in Portugal.

Source: ESGNews