No EIB support for UK SME's

 No EIB support for UK SMEs

A report by the European Investment Bank reveals it spent almost €20bn supporting credit provision for SMEs last year, none of which was awarded to British entrepreneurs. The UK was the only country in the European Union not to receive any funds, despite Britain owning a 16% share in the EIB, in return for having invested €3.3bn. The EIB said there was less need to support lending in the UK because Bank of England and government interventions meant that big banks had enough access to cheap finance.

Source: The Times (04/03/2016)