Investment Plan for Europe: EIF and Altum sign agreement to benefit innovative businesses in Latvia

14-10-2016

guarantees, investing in venture capital funds, etc.). Altum develops and implements state aid programmes to compensate for the market's shortcomings that can't be solved by private financial institutions. More information about Altum is available here.

 

 

About the Investment Plan for Europe

 

The Investment Plan focuses on strengthening European investments to create jobs and growth. It does so by making smarter use of new and existing financial resources, removing obstacles to investment, providing visibility and technical assistance to investment project. The Investment Plan is already showing results. The European Investment Bank (EIB) estimates that by October 2016, the European Fund for Strategic Investments (EFSI) triggered more than EUR 138 billion of investment in Europe.

 

Building on this success, the European Commission on 14 September 2016 proposed extending the EFSI by increasing its firepower and duration as well as reinforcing its strengths. Find the latest EFSI figures including a break-down by sector and by country here. For more information see the FAQs.

 

 

About InnovFin

 

The InnovFin SME Guarantee Facility provides guarantees and counter-guarantees on debt financing of between EUR 25,000 and EUR 7.5 million in order to improve access to loan finance for innovative small and medium-sized enterprises and small mid-caps (up to 499 employees). The facility is managed by EIF, and is rolled out through financial intermediaries – banks and other financial institutions – in EU Member States and Associated Countries. Under this facility, financial intermediaries are guaranteed by EIF against a proportion of their losses incurred on the debt financing covered under the facility.

 

 

 

Press contacts:

 

EIF: David Yormesor

Tel.: + 352 24 85 81 346, E-Mail: d.yormesor@eif.org

 

Altum: Sandra Eglīte

Tel.: + 371 6777 4244, E-Mail: sandra.eglite@altum.lv

 

European Commission: Siobhán Millbright

Tel.:+ 32 (0)2 29 57 361, E-Mail: siobhan.millbright@ec.europa.eu

Last update:    14-10-2016