Under Horizon 2020, the European Commission and the European Investment Bank Group launched, InnovFin – EU Finance for Innovators. This is a set of new financial instruments and advisory services to help innovative firms access finance more easily.
InnovFin builds on the risk-sharing finance facility developed under FP7. In particular InnovFIN Large Projects provides loans and guarantees from €25 m to €300 m for research and innovation projects, including research infrastructure projects.
- Extreme Light Infrastructure, is benefitting from InnovFIN Large Projects funding
- • Under FP7, the Risk Sharing Finance Facility (RSFF) supported the European Investment Bank in offering a credit facility of up to €300 million to the European Southern Observatory (ESO). This went towards the construction of the European Extremely Large Telescope (E-ELT) — another ESFRI landmark
European Funds for strategic investments (EFSI)
The EFSI is an initiative launched jointly by the EIB Group (European Investment Bank and European Investment Fund), and the European Commission, to help overcome the investment gap in the EU by mobilising private financing for strategic investments.
The EFSI is one of the three pillars of the Investment Plan for Europe that aims to revive investment in strategic projects around Europe to ensure that money reaches the real economy.
The EFSI is a €16 billion guarantee from the EU budget, complemented by €5 billion of the EIB’s own capital. The fund has been integrated into the EIB Group. Projects supported by EFSI are subject to the normal EIB project cycle and governance.
EFSI projects focus on sectors that can deliver a positive impact on the European economy, including:
- Strategic infrastructure including digital, transport and energy
- Education, research, development and innovation
- Expansion of renewable energy and resource efficiency
- Support for small and mid-size businesses