RCB Bank extends cooperation with EIB in supporting SMEs

RCB Bank announced here today that it has extended its cooperation with the European Investment Bank (EIB) and the government of Cyprus to achieve viable growth for the Cyprus economy by supporting small and medium sized Cypriot enterprises.

According to a press release, further to the current cooperation between RCB and the EIB which regarded a 20 million Euros funding facility allocated for the financing of new investments of Cypriot SMEs at beneficial lending rates, RCB Bank Ltd will now be able to additionally channel 40 million Euros to the Cypriot economy.

As noted, these 40 million Euros translate to competitive lending solutions for new investments, characterized by a longer repayment period, beneficial lending rates and favorable terms to SMEs, which are the backbone of the Cypriot economy.

Source: Cyprus News Agency.