EIB extends 440 mln eur to Erste units for SMEs

PRAGUE May 19 (Reuters) - The European Investment Bank has agreed to extend 440 million euros ($599.7 million) to four units of Austria-based Erste Bank (ERST.VI) on Tuesday to finance loans to small and medium sized companies, the EIB said.

The EIB said it would extend 200 million euros to Prague-based Ceska Sporitelna, 100 million to Vienna-based Erste Bank Oesterreich, 40 million to Erste Bank Hungary and 100 million to Immorent, Erste's leasing, real estate and projects unit.

The EIB, a European Union sponsored development lender, expects to have approved funds worth 8.5 billion euros to lend in central and Eastern Europe by the end of this year. ($1=.7337 Euro) (Reporting by Michael Winfrey; Editing by Hans Peters)