The effectiveness of the European Investment Bank’s (EIB) recent announcement that it would provide over £700 million of funding to nearly 3,000 small firms through participating national banks has been called into question.

Bibby Financial Services has questioned how many UK businesses will actually gain access to this funding and how it will affect the economy in the long run.

Edward Rimmer, chief executive, Bibby Financial Services said: “Despite Government attempts to increase funding available to small and medium sized businesses through EIB funding