European Commission teams up with the European Investment Bank to improve financing of the Circular Economy

European Investment Bank, Luxembourg
Friday, 18 December, 2015
At the "Financing the Circular Economy" conference on 10 December, Wolfgang Burtscher (Deputy Director-General of DG Research and Innovation) signed an amendment to the InnovFin Delegation Agreement that helps circular economy projects and businesses secure funding and supports the realisation of EU climate goals.

An amendment to the Delegation Agreement of the Horizon 2020 Financial Instruments with the European Investment Bank is to enable higher-risk, yet innovative sustainable business models and plans to access to EU-supported credit, previously only available to innovative industrial and technology enterprises. In addition, InnovFin Advisory, a financial advice service in the EIB, will also support mid-sized businesses in making their circular economy projects investment ready in order to benefit from EU access to risk finance under Horizon 2020.