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Science at the service of Europe

Risk-Sharing Finance Facility

Sharing the risk of research investments

The Risk-Sharing Finance Facility (RSFF) supports Research and Innovation investments that capital markets are usually reluctant to support due to the perceived risk and uncertainty.

EU contribution to RSFF loans
in 2012: € 203.15 million

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euro as piece of a gearwheel

Delivering on the goals of the RSFF contributes to the Europe 2020 strategy, in particular the "Innovation Union" Flagship Initiative.

The activity's main objective in 2012 was the creation of new mechanisms such as the Risk-Sharing Instrument (RSI), an RSFF facility for innovative SMEs and companies with small or medium capitalisations. The definition of entities eligible as research institutes was also widened, with the EU assuming a higher risk than before.

In 2012 the European Investment Fund launched a call for the expression of interest for banks to act as intermediaries in the RSI. Twelve applications from banks in nine countries were received. Seven agreements have already been signed in six EU Member States for a total of €700 million in loans that could be guaranteed over the next two years.

This activity has made excellent progress towards supporting additional investment in innovative European Research and Development. The RSFF has maintained a high leverage factor of ten within the Cooperation Programme and a leverage factor of four under the Capacities Programme.