European Investment Bank to provide €200m for Irish SMEs with AIB

European Investment Bank
European Investment Bank to provide €200m for Irish SMEs with AIB

The European Investment Bank (EIB) has agreed to work with AIB in providing €200m for investment by small and medium companies across Ireland.

This represents the latest EIB support for SMEs in Ireland since an earlier lending programme intermediated by AIB in 2011.

The SME initiative, the largest ever engagement by the EIB to support Irish small business, was signed at AIB headquarters in Dublin, today by AIB chief executive David Duffy and EIB president Werner Hoyer.

The Minister for Jobs, Enterprise and Innovation Richard Bruton TD also participated.

“Today’s announcement that the EIB along with AIB will provide an additional €200m for SMEs in Ireland is a major boost for Irish business and jobs. I wish AIB and the EIB every success with this important initiative.”

AIB CEO David Duffy added: “This further EIB engagement is to be warmly welcomed following strong interest in the 2011 programme. Today’s signing is very much part of our broader strategy to stimulate SME growth. This fund will support investment in thousands of jobs across a range of sectors including agri-business, the services, retail and manufacturing, all underpinning vital jobs and contributing enormously to the economy.”