Investment & Fund Management
The European Investment
Full Credential Description
The European Investment Fund (EIF), in collaboration with Banque Populaire and the Federation Nationale des SOCAMA (SOCAMA), addressed a significant financing gap for small and medium-sized enterprises (SMEs) in France. The specific issue faced was the need for enhanced access to loans for SMEs, which are crucial for their growth and innovation. To tackle this, the EIF provided a guarantee under the European Commission's COSME programme, enabling SOCAMA to support an additional EUR 1 billion in loans.
This tailored solution was designed to benefit approximately 33,000 French SMEs over a two-year period, effectively doubling the portfolio previously supported by the COSME programme. The agreement was a follow-on to a successful prior engagement, which had already aided over 129,000 SMEs. The initiative not only facilitated access to finance but also aimed to stimulate job creation and economic growth across France.
The quantifiable results of this agreement are significant. It is expected to unlock substantial financial resources for SMEs, thereby enhancing their ability to innovate and expand. The EIF's Chief Executive, Pier Luigi Gilibert, emphasized that this agreement would contribute to job creation and growth, highlighting the critical role of sufficient access to debt finance for business development. The overall impact of the Investment Plan for Europe, which this agreement is part of, is projected to mobilize EUR 164 billion in total investments and support nearly 388,000 SMEs across Europe.