BAKU, Azerbaijan, October 21. The European Investment Bank (EIB) and Deutsche Leasing have announced the second tranche of a project aimed at supporting small and mid-sized enterprises (SMEs) through leasing, TurkicWorld reports.
According to the bank, with a total project cost of 560 million euros, this tranche involves 200 million euros in EIB financing, of which 50 million euros was previously signed in February.
Under the cooperation program, Deutsche Leasing will finance machinery and technologies that promote energy savings, low-carbon mobility, and other environmental solutions, facilitating the green transformation of SMEs and mid-caps in Germany and Eastern Europe.
The focus of this second tranche is on climate investment, with at least 30 percent of EIB funds allocated to support climate and environmental initiatives. This includes financing for energy-efficient industrial equipment and agricultural machinery, as well as climate adaptation measures.
Leveraging its AAA credit rating, the EIB can secure favorable terms in capital markets, passing these benefits on to SMEs and mid-caps. This partnership aims to enhance long-term economic growth and job security, supporting approximately 570 SMEs and around 47,300 employees.
"SMEs and mid-caps are the backbone of our European economy," said EIB Vice President Nicola Beer. "Supporting them is one of the core missions of the EIB. Together with financing partners like Deutsche Leasing, we provide long-term, stable financing for the Mittelstand to invest in innovative projects for the green and digital transition and help foster European competitiveness."
