Investment & Fund Management

The European Investment Fund (EIF) and Caixa Geral de Depósitos (CGD) entered into a significant agreement under the European Commission’s COSME programme, aimed at enhancing access to finance for small and medium-sized enterprises (SMEs) in Portugal. The specific challenge faced by SMEs in the region was a lack of adequate financing options, which hindered their potential for growth and job creation.

To address this issue, the EIF and CGD launched a new EUR 200 million loan product designed to support approximately 5,600 businesses across various sectors in Portugal. This initiative was part of the broader Investment Plan for Europe, also known as the Juncker Plan, which seeks to stimulate investment and economic growth throughout the EU. The loan product is expected to provide essential financial resources to SMEs, enabling them to transform their ideas into viable projects.

The tailored solution not only enhances the financial landscape for SMEs but also aligns with the European Commission's commitment to boosting jobs and growth in Portugal. The EIF's Chief Executive, Pier Luigi Gilibert, emphasized the importance of this financial product for the SME community, while CGD's Chief Executive, Paulo Moita de Macedo, highlighted the bank's focus on supporting entrepreneurs through innovative financing solutions. This collaboration is anticipated to yield significant benefits, including increased access to finance for SMEs, which is crucial for fostering innovation and economic development in the region.