By John Smith • Published: 02 Oct 2020 • 10:53
THE European Investment Bank (EIB) has agreed to finance Santander Bank to the tune of €143 million in order to support small and medium sized businesses that have been affected by the economic crisis caused by the Covid-19 pandemic.
Effectively the Spanish Bank will pass over to the EIB a number of loans that it has already entered into, thus ensuring that the inherent risk is passed over to the EIB rather than sitting with Santander which is now one of the world’s largest banks.
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Married to Ophelia in Gibraltar in 1978, John has spent much of his life travelling on security print and minting business and visited every continent except Antarctica. Having retired several years ago, the couple moved to their house in Estepona and John became a regular news writer for the EWN Media Group taking particular interest in Finance, Gibraltar and Costa del Sol Social Scene. Currently he is acting as Editorial Consultant for the paper helping to shape its future development. Share your story with us by emailing newsdesk@euroweeklynews.com, by calling +34 951 38 61 61 or by messaging our Facebook page www.facebook.com/EuroWeeklyNews
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