EFSI: €19 million for Swedish SMEs

February 8, 2016

Hat: Investment Plan for Europe: €19 million for SMEs in Sweden

Funding Scheme: 2016-02-08

Pgm2014 2020: Yes

Amorce:

Today, the signature of a guarantee agreement between the European Investment Fund (EIF) and Norrlandsfonden aimed at increasing lending to innovative small and medium-sized enterprises (SMEs) and small mid-caps in Sweden took place.

Text:

The European Investment Fund (EIF) and Norrlandsfonden, have signed a guarantee agreement to increase lending to innovative small and medium-sized enterprises (SMEs) and small mid-caps in Sweden. This transaction benefits from the support of the European Fund for Strategic Investments (EFSI), the heart of the Investment Plan for Europe.

The new agreement will allow Norrlandsfonden to provide SEK 180m (ca. EUR 19m) of loans to innovative companies in Sweden over the next 2 years. The loans will be enabled by an EIF guarantee under the “EU InnovFin finance for Innovators” initiative with financial backing from the European Commission’s Horizon 2020 programme. The agreement signed today will make it possible for Norrlandsfonden to offer innovative companies additional financing at favourable conditions.

This is the first InnovFin transaction in Sweden signed thanks to EFSI support. The deal reflects the EIB Group’s commitment to respond swiftly to calls from Member States, the European Commission and the European Parliament for a rapid launch of concrete initiatives under EFSI, accelerating lending and guaranteeing transactions capable of boosting jobs and growth in the EU.

Url description: Press room - European Commission

Url: https://ec.europa.eu/commission/2014-2019/katainen/announcements/investment-plan-europe-eu19-million-smes-sweden_en