Brussels, 25 May 2023
The EIF and Lithuania’s SME Bank have signed a new guarantee agreement under the InvestEU programme to guarantee a portfolio of more than €37 million in new loans for micro and small enterprises and small mid-caps in the Baltics, Finland and the Netherlands.
The agreement will provide guarantees for loans in three key policy areas: (1) sustainability, (2) innovation and digitalisation, and (3) micro finance. The sustainability guarantee and the innovation and digitalisation guarantee will support over €28 million of new debt financing for small and medium-sized businesses and small mid-caps to accelerate the green transition and support innovation and digitalisation-driven enterprises. In addition, SME Bank will be able to lend €9.4 million to microenterprises experiencing difficulties accessing credit.
Paolo Gentiloni, Commissioner for Economy, said:
“InvestEU is playing a central role in supporting small businesses across Europe. With this agreement, an increasing number of SMEs will gain access to the finance they need to innovate, expand, and create jobs in three key areas: sustainability, innovation, and digitalisation. I am proud that, thanks to this agreement, more businesses in the Baltics, Finland and the Netherlands will receive the support necessary to fulfil their potential, thereby contributing to our transition to a low-carbon and digital economy.”
The InvestEU programme provides the EU with long-term funding by leveraging private and public funds in support of EU policy priorities. As part of the programme, the InvestEU Fund is implemented through financial partners who will invest in projects using the EU budget guarantee and thus mobilising at least €372 billion in additional investment.
A press release is available online.
Source – EU Commission