The European Investment Fund in cooperation with the European Commission will to select eligible Financial Intermediaries to benefit from certain portfolio guarantee products in line with the InvestEU Fund policy objectives.
The EIF may determine that the deadline will end on an earlier date depending, inter alia, on the availability of the budgetary resources. Any change in the deadline will be announced officially on the EIF web page.
Financing type: Direct guarantees and counter-guarantees (Capped or uncapped)
Institution: European Investment Fund (EIF)
Main objective: EIF, through the use of portfolio guarantees and counter-guarantees, will contribute to the following policy objectives: (i) the competitiveness of the EU; (ii) growth and employment in the EU economy, the sustainability of the EU economy and its environmental and climate dimension; (iii) social resilience; (iv) the promotion of scientific and technological advances, of culture, education and training; (v) the integration of the EU capital markets and the strengthening of the internal market; (vi) the promotion of economic, social and territorial cohesion; or (vii) the sustainable and inclusive recovery of the EU economy after the crisis caused by the Covid-19 pandemic.
Who is eligible:
Public or private entities, including but not limited to:
- For guarantees: credit or financial institutions, alternative lenders, leasing companies;
- For counter-guarantees: (counter-) guarantee schemes, (counter-) guarantee institutions or other entities, credit or financial institutions;
- established or operating in EU Member States and overseas territories (OTCs).
EIF will provide (counter-)guarantees to selected Financial Intermediaries through the InvestEU Portfolio Guarantee Products, as follows:
1) SME Competitiveness Portfolio Guarantee Product, the successor of COSME Loan Guarantee Facility, which aims to improve the competitiveness of enterprises by facilitating access to, and the availability of, finance to SMEs.
2) Sustainability Portfolio Guarantee Product, a new guarantee product that will support a green and fair transition and uptake of green, sustainable and inclusive investments of the target final recipients.
3) Innovation and Digitalisation Portfolio Guarantee Product, the successor of InnovFin SME Guarantee Facility and the COSME LGF digitalisation pilot, which aims to support innovation and digitalisation driven enterprises, by enhancing access to finance to R&I intensive beneficiaries (SMEs and Small Mid-Caps).
4) Cultural and Creative Sectors Portfolio Guarantee Product, the successor of CCS Guarantee Facility, which aims to enhance access to finance for target final recipients in the cultural and creative sectors, supporting its thriving, agile and creative ecosystem, consolidating its resilience and allowing it to adapt to the challenges ahead.
5) Microfinance and Social Portfolio Guarantee Product, the successor of EaSI GFI, aims at enhancing access to finance for microfinance and social enterprises.
6) Skills and Education Portfolio Guarantee Product, the successor of the EFSI Skills & Education Guarantee Pilot which aims to enhance access to finance for students and learners, enterprises providing training to their employees, organisations active in the skills, education and training sectors as well as organisations providing services ancillary to skills, education, etc.