Posts Tagged ‘European Investment Fund’
New Three Seas Initiative partnership to mobilise billions for strategic infrastructure across Central and Eastern Europe
Infrastructure projects across Central and Eastern Europe are expected to benefit at least €2 billion of new investment following a new partnership announced today between the European Investment Fund (EIF) and national promotional institutions from five EU countries at the Three Seas Initiative Summit in Croatia. The initiative will mobilize public money for a broad range of infrastructure investment funds operating across the region.
The EIF, together with national institutions from Poland (BGK), Romania (BID), Lithuania (ILTE), Croatia (HBOR) and Slovenia (SID Banka), signed a Memorandum of Understanding to launch the initiative later this year. Bulgaria has also pledged support to the initiative, through the Ministry of Innovation and Growth. Other Three Seas Initiative countries are expected to join after the new fund of funds is launched.
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Originally published on 28 Apr
Read MoreBaltic microenterprises to get €15 million financing boost under EIF-backed initiative by alternative lender Capitalia
The smallest companies in the Baltics will be eligible for up to €15 million in loans as a result of an initiative that alternative financing provider Capitalia is undertaking with support from the European Investment Fund (EIF). Capitalia will use an EIF guarantee to offer crowdfunded loans to microenterprises in Estonia, Latvia and Lithuania over three years.
Microenterprises, which have fewer than ten employees and annual turnover or total assets below €2 million, often struggle to secure funding from traditional lenders because of limited collateral or credit history.
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Originally published on 30 Mar
Read MoreBigbank and the EIB Group launch synthetic securitisation to unlock more than €250 million for Baltic SMEs
Estonian-based Bigbank AS has signed a synthetic securitisation transaction with the European Investment Bank Group, comprising the European Investment Bank (EIB) and the European Investment Fund (EIF). The transaction, which is the first synthetic securitisation transaction for the Bigbank, will support new lending to small and medium-sized enterprises (SMEs) and mid-caps in Estonia, Latvia and Lithuania, with a particular focus on micro-enterprises, young companies and environmentally sustainable investments.
Under the agreement, the EIF is providing Bigbank with a financial guarantee covering a reference portfolio of more than €210 million, consisting of loans, credit lines and leases. The guarantee provides credit risk protection on a senior tranche of €184.3 million and a mezzanine tranche of €23.1 million. The EIF’s exposure to the mezzanine tranche, as well as part of its exposure to the senior tranche, is counter-guaranteed by the EIB. Bigbank retains the junior tranche of the portfolio, amounting to approximately €2.6 million.
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Originally published on 2 Mar
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