Investment & Fund Management
The European Investment
Full Credential Description
The European Investment Fund (EIF) and The Danish Growth Fund (Vækstfonden) signed a COSME agreement aimed at supporting agricultural Small and Medium-sized Enterprises (SMEs) in Denmark. The specific challenge faced by these SMEs was limited access to financing, which hindered their ability to grow and acquire farms. The tailored solution provided through this agreement involved a guarantee from EIF under the COSME programme, which is financially backed by the European Commission. This arrangement allowed Vækstfonden to support DKK 180,000,000 (approximately EUR 24.2 million) in loans over three years, specifically targeting around 90 young farmers looking to acquire farms.
As a result of this initiative, more than 400 Danish SMEs are expected to benefit from over EUR 100 million of EU support, significantly enhancing their access to finance. This deal not only addresses the immediate financing needs of these agricultural businesses but also reflects the commitment of the EIB Group to stimulate job creation and growth in the EU through rapid and concrete financial initiatives.