In­vest­ment Plan deals signed in Malta and Slo­vakia

Malta Independent - - NEWS -

The Euro­pean In­vest­ment Fund has signed new SME fi­nanc­ing agree­ments with banks in Malta and Slo­vakia to pro­vide low-cost loans to small- and medium-sized en­ter­prises and mid-caps.

The agree­ments ben­e­fit from the Euro­pean Fund for Strate­gic In­vest­ments guar­an­tee, the heart of the In­vest­ment Plan for Europe.

The agree­ment be­tween the EIF and the APS Bank is the first EFSI deal to be signed in Malta, tak­ing the to­tal EU coun­tries with EFSI fi­nanc­ing to 27. As a re­sult of the In­vest­ment Plan‘s sup­port, APS Bank will pro­vide €12 mil­lion in low-cost loans to in­no­va­tive Mal­tese SMEs.

Mean­while in Slo­vakia, the EIF signed two EFSI deals with Českosloven­ská Ob­chodná Banka amount­ing to €135 mil­lion for SMEs and mid-caps.

Vice-Pres­i­dent Maroš Še­fčovič, re­spon­si­ble for En­ergy Union, said: “Nearly 6,000 SMEs and mi­cro-en­ter­prises in Slo­vakia will be able to ac­cess new fi­nance, guar­an­teed by the Juncker In­vest­ment Plan. In­vest­ment un­der the Plan can be com­bined with other sources of EU fund­ing. The Plan is such a suc­cess that we just an­nounced its ex­pan­sion and dou­bling its ca­pac­ity.”

Build­ing on the suc­cess of the EFSI in its first year, the Euro­pean Com­mis­sion on 14 Septem­ber pro­posed to ex­tend the EFSI by in­creas­ing its fire­power and du­ra­tion as well as re­in­forc­ing its strengths.

Due to high de­mand, the EFSI steer­ing board in July scaled up the SME win­dow of the EFSI, in­creas­ing it by €500 mil­lion, mean­ing more EFSI-backed eq­uity and loans will reach Euro­pean SMEs.

Dar­iusz Rosati MEP

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