Brussels, 22 February 2023
The European Investment Fund (EIF) and Swedish business developer Almi have signed a guarantee agreement backed by the InvestEU programme. With this agreement, Almi will make available €211 million in loans for SMEs, small mid-caps and micro enterprises across Sweden to support innovation, sustainability, and microfinance projects.
According to the agreement, the EIF will provide three guarantees targeting different policy areas. The InvestEU Sustainability Guarantee will support about €58 million in loans to contribute to Europe’s green transition. Additional €51 million in loans will be made available under the InvestEU Innovation and Digitalisation Guarantee to support businesses that develop and introduce new products, services and processes in these areas. Lastly, the InvestEU Microfinance Guarantee will support about €102 million in loans for microenterprises that will enhance access to finance for social and microenterprises experiencing difficulties accessing credit.
Commissioner for the Economy, Paolo Gentiloni, said:
“Small and medium-sized businesses have long been Europe’s engine for growth. Now, they can also drive our green transition. I am delighted that, thanks to agreements like this, InvestEU is playing an important role in providing innovative businesses in Sweden with the finance they need to fully embrace the green transition.”
The InvestEU programme provides the EU with long-term funding by leveraging private and public funds in support of EU policy priorities, such as the European Green Deal and the digital transition. 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