The European Investment Bank (EIB) and Všeobecná úverová banka, a.s. (VÚB), part of the Intesa Sanpaolo Group, have signed a new €45 million credit line aimed at supporting projects in Slovakia that address climate change. The funds will be available to small and medium-sized enterprises (SMEs), mid-cap companies, and eligible public and private entities, with a primary focus on Slovakia’s cohesion regions.
This credit line is the second and final tranche under a €95 million framework agreement established in October 2023 between EIB and VÚB. The cooperation is expected to mobilise at least €190 million in total investment when combined with matching contributions from VÚB and other co-financiers.
“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.
About 90% of this financing will benefit companies or projects based in Slovakia’s cohesion regions. These areas typically receive additional support due to economic disparities within the European Union. At least 10% of funds will go towards initiatives with direct climate impact such as improving energy efficiency or sustainable mobility solutions.
By combining resources from both institutions, beneficiaries—particularly SMEs and mid-cap firms—will have access to loans under more favourable terms including longer repayment periods and flexible interest rates.
The original agreement between EIB Group and VÚB was signed on October 19, 2023 for an initial €50 million tranche.
The European Investment Bank is owned by EU member states. Its lending focuses on key priorities like climate action, innovation, security, social infrastructure, agriculture, digitalisation, cohesion policy goals within Europe as well as global competitiveness efforts. In 2024 alone it provided nearly €89 billion for over 900 high-impact projects throughout Europe.
All EIB Group-backed projects align with commitments under the Paris Climate Agreement; almost sixty percent of its annual financing directly supports climate mitigation or adaptation efforts.
