Bankinter and the FEMETE federation sign an agreement to promote access to European funds for corporates linked to the metal and new technologies industry
The Bank and the federation are keen to provide specific financial solutions and advice to help boost the business fabric of the Canary Islands.
Bankinter and the Santa Cruz de Tenerife Provincial Federation of Metal and New Technologies Corporates (FEMETE) have signed a collaboration agreement to promote greater access to the Next Generation EU programme of European aid for the federation's members: some 1,500 corporates and nearly 10,000 professionals.
The agreement between Bankinter and FEMETE provides for the Bank to deliver financial services and advice to the federation's members under preferential conditions, especially for projects related to the different lines of action of the European Recovery and Resilience Mechanism and the European Commission funds.
The agreement was signed in Santa Cruz de Tenerife by Bankinter's territorial director in the Canary Islands, Laura García, and the chairman of FEMETE, Alberto Villalobos.
By virtue of the agreement, with a duration of one year, extendable, the Bank will finance projects for a total volume of up to 25 million euros.
In addition to offering support and specific financial solutions for each project, Bankinter will allow the federation's members to access its comprehensive advisory service on European funds. The purpose of this service is to help corporates attract and execute projects eligible for EU aid.
Speaking about the agreement, Laura García, Bankinter's territorial director in the Canary Islands, said the objective was to 'help boost the metal and new technologies industry with the aim of promoting economic progress in the Canaries. We want to become the key partner for Canary Island corporates looking to expand their projects.'
FEMETE chairman Alberto Villalobos stressed that the agreement was 'in line with the federation's mission to encourage the growth and competitiveness of its members and multiply the value of both corporates and professionals. It also reinforces our vision of becoming drivers of the metal and ICT business fabric in the province of Tenerife.'
Bankinter is the fifth largest Spanish bank by size, measured by its assets of 107.5 billion euros at the end of 2022. It is a benchmark in corporate banking, having provided a total of 28.7 billion euros in financing.
FEMETE is made up of 24 business associations, representing some 1,500 corporates and nearly 10,000 professionals, to which it offers numerous services. Each year it also delivers more than 200 courses, amounting to 11,500 hours of specialised training for nearly 2,000 students.