EIB and VÚB signed a new credit line for SMEs

• EIB provides €45 million to VUB to fund projects in Slovakia that help tackle effects of climate change
• Credit line is available at VUB to SMEs, Mid-Caps, and eligible public and private entities, primarily in Slovakia’s cohesion regions
• This is the final tranche under a €95 million framework agreed in 2023; together with the first tranche the cooperation is expected to mobilise at least €190 million for projects mitigating climate change

Bratislava, Luxembourg — The European Investment Bank (EIB) and Všeobecná úverová banka, a.s. VÚB, a member of the Intesa Sanpaolo Group, created a new €45 million credit line to finance projects mitigating climate change by Slovak small and medium-sized enterprises (SMEs), Mid-Caps, and eligible public and private entities, with a focus on the operations benefiting country’s cohesion regions.

This is the second and final tranche of a €95 million operation agreed in October 2023 with VÚB to support smaller investment projects and working capital needs of Slovak companies. The programme aims to foster growth, competitiveness, and a just transition to a carbon neutral economy in Slovakia.

Together with matching contributions from VÚB and other co financiers, the operation is expected to catalyse at least €190 million in total investment.

“The EIB is delivering affordable finance to businesses and projects across Slovakia, helping ensure balanced economic and social growth and a just transition across country. These are the two top priorities of the EIB Group. We are proud of our continuous support for Slovakia’s economy and for being able to help create more equal opportunities for all Slovak citizens and their businesses,” said Zuzana Kaparova, Head of the EIB Office in Bratislava.

“This operation - and the strong market demand for such financing - shows that Slovak businesses recognise the risks posed by climate change and are ready to act. Together with the EIB we are protecting local enterprises, jobs, and livelihoods while strengthening the long term sustainability of Slovakia’s economy,” said Andrej Viceník, Chief Director of Corporate Banking and Member of the Management Board in VÚB bank.

Approximately 90% of the financing is expected to benefit companies and projects located in Slovakia’s cohesion regions, helping to reduce regional disparities and promote balanced growth. At least 10% of the financing will support projects that also have a climate relevant impact such as energy efficiency and sustainable mobility.

By blending EIB funds with VÚB’s resources, the facility will offer more favourable conditions for final beneficiaries - particularly SMEs and Mid Caps - including longer tenors and flexible rates to improve access to finance.

The initial agreement, expanded today with the second tranche under the EIB Group and VUB partnership, was signed in Bratislava on 19 October 2023 for €50 million.

About European Investment Bank
The European Investment Bank (ElB) is the long-term lending institution of the European Union, owned by its Member States. Built around eight core priorities, we finance investments that contribute to EU policy objectives by bolstering climate action and the environment, digitalisation and technological innovation, security and defence, cohesion, agriculture and bioeconomy, social infrastructure, the capital markets union, and a stronger Europe in a more peaceful and prosperous world.

The EIB Group, which also includes the European Investment Fund (EIF), signed nearly €89 billion in new financing for over 900 high-impact projects in 2024, boosting Europe’s competitiveness and security. 

All projects financed by the EIB Group are in line with the Paris Climate Agreement, as pledged in our Climate Bank Roadmap. Almost 60% of the EIB Group’s annual financing supports projects directly contributing to climate change mitigation, adaptation, and a healthier environment. 

Approximately half of the EIB's financing within the European Union is directed towards cohesion regions,

About VUB
VUB is a member of the international banking group Intesa Sanpaolo, which is represented in more than 40 countries around the world with a network of banks, direct branches and representative offices. Bank operates 121 retail branches and 31 corporate branches in Slovakia and 1 branch in the Czech Republic.