Investment & Fund Management

The European Investment Fund (EIF) and ?eskoslovenská obchodná banka (CSOB) signed two CIP Guarantee Agreements under the Loan Guarantee and Micro-Credit Window aimed at supporting Small and Medium-sized Enterprises (SMEs) in Slovakia. The specific challenge faced by SMEs and micro-enterprises in Slovakia was limited access to finance, which was exacerbated by high collateral requirements.

To address this issue, the EIF provided a tailored solution through the Competitiveness and Innovation Programme (CIP), which facilitated the introduction of a new working capital term loan product with reduced collateral requirements. This initiative allowed CSOB to significantly increase its lending capacity to SMEs and micro-enterprises, enabling the generation of a new portfolio of loans worth approximately EUR 140 million over the next three years.

As a result of these agreements, it is estimated that more than 6,000 Slovak SMEs could benefit from improved access to finance, thereby supporting their growth and development in a challenging economic environment. This collaboration not only enhances the financial landscape for SMEs in Slovakia but also aligns with the EIF's mission to foster innovation, entrepreneurship, and economic growth across Europe.