European Commission and European Investment Fund mobilise €500 million for social and micro-entrepreneurs

 

European Commission @EU_Commission

2015-06-24

 

.@EU_Commission & European Investment Fund mobilise €500 million for social and micro-entrepreneurs europa.eu/!RN68tC @mariannethyssen

 

European Commission - Press release


"To promote jobs and growth in Europe, social and micro-enterprises will soon have access to over €500 million in finance. This is the result of a new mandate agreement signed today between the European Commission and the European Investment Fund (EIF). Support will be made available under the European Programme for Employment and Social Innovation (EaSI), which will provide a €96 million guarantee for the period 2014-2020 which is expected to mobilise over €500 million in loans. The programme targets individuals who wish to start or further develop their own social and micro-enterprises, in particular, people who have difficulties in entering the job market or in accessing finance.Brussels, 24 June 2015"

 

About the European Investment Fund

 

"The European Investment Fund (EIF) is part of the European Investment Bank group. Its central mission is to support Europe's micro, small and medium-sized businesses (SMEs) by helping them to access finance. The EIF designs and develops venture and growth capital, guarantees and microfinance instruments which specifically target this market segment. In this role, the EIF fosters EU objectives in support of innovation, research and development, entrepreneurship, growth, and employment. EIF’s total net commitments to private equity funds amounted to over €8.8 billion at the end of 2014. With investments in over 500 funds, the EIF is a leading player in European venture due to the scale and the scope of its investments, especially in high-tech and early-stage segments. The EIF’s guarantees loan portfolio totalled over €5.6 billion in over 350 operations at end 2014, positioning it as a major European SME guarantees actor and a leading micro-finance guarantor."

 

 

EU Funds and Financing Instruments

 

European Fund for Strategic Investment (EFSI) (operational at the end of summer)

 

European Commission > Regional Policy > FAQ

European Structural and Investment (ESI) Funds – 5 Funds

  • European Regional Development Fund (ERDF)
  • European Social Fund (ESF)
  • Cohesion Fund (Cohesion Fund applies to EU Member States which have a GDP lower than 90 % of the EU-27 average – Croatia not taken into account).
  • European Agricultural Fund for Rural Development (EAFRD)
  • European Maritime and Fisheries Fund (EMFF)

 

Connecting Europe Facility (CEF)

Information source

 

"2014-2020 programme for investing in EU infrastructure priorities in Transport, Energy and Telecommunications."

 

This fund is a framework programme, organised in three different sub-programmes

CEF - CONNECTING EUROPE FACILITY - ENERGY

CEF - CONNECTING EUROPE FACILITY - TELECOMMUNICATION NETWORK

CEF - CONNECTING EUROPE FACILITY - TRANSPORT

 

"Grants for project of common interest within the framework of the trans-European networks policy in the sectors of energy, transport and telecommunications to develop, build and upgrade infrastructure."

 

"The Connecting Europe Facility is the follow-up of TEN-E (Trans-European Network of Energy), TEN-T (Trans-European Network of Transport) and INFSO orientations."

 

 

Financing

European Investment Fund (part of European Investment Bank)

http://www.eif.org/who_we_are/index.htm

“We are a specialist provider of risk finance to benefit small and medium-sized enterprises (SME) across Europe. We are part of the EIB Group. Our shareholders are the European Investment Bank (EIB), the European Union, represented by the European Commission, and a wide range of public and private banks and financial institutions.”