Santander deal

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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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