- Total financing under the European Fund for Strategic Investments (EFSI) in Belgium amounts to €1.9 billion and is set to trigger €10.3 billion in additional investments
Infrastructure and innovation projects
- 22 approved projects financed by the European Investment Bank (EIB) with EFSI backing
- approximately €1.5 billion in total financing
- set to trigger around €8.2 billion in total investment
Small and medium enterprises (SMEs)
- 20 approved agreements with intermediary banks financed by European Investment Fund (EIF) with EFSI backing
- €427 million in total financing
- set to trigger around €2.9 billion in investments with some 13,800 SMEs and mid-cap companies expected to benefit from improved access to finance
Examples of projects supported by the Investment Plan in Belgium
Wind farm developer SeaMade is building 58 new wind turbines off the coast of Belgium thanks to a €250 million loan from the European Investment Bank. SeaMade joins the other four wind farms along Belgium’s coastline which have received support from the Juncker Plan. SeaMade is constructing two sites – “Mermaid” and “Seastar” – with a combined capacity of 487 MW. As of 2020, SeaMade will deliver renewable energy to 485,000 households, leading to a reduction of more than 500,000 tonnes of CO2 emissions per year.
Two former executives in the fashion industry set up their own fashion brand KAAI to design and produce handbags aimed at professional women. To help get their business idea off the ground, they secured a loan from PMW, guaranteed by the EU. The financing helped increase their production capacity, pay for marketing and set up their first flagship store in Antwerp. Start-ups in the creative industries like KAAI often face a financing gap, which was why support from the Juncker Plan was crucial in unlocking the financial assistance needed.
KiOmed Pharma develops treatments for arthritis. It produces a medical gel which helps alleviate joint pain and delays the need for surgery. The gel is highly efficient and can be used less frequently than existing treatments on the market. To carry out the research, KiOmed secured a loan from Sowalfin under the Juncker Plan. They employed 10 extra staff to work on the clinical trials.
Ginkgo Fund II encourages urban renewal by cleaning up polluted industry sites in Belgium and France, using environmentally sound remediation techniques. Subsequently the sites are converted into spaces for new homes and offices. Ginkgo Fund II is expected to create around 5,000 homes and thousands of jobs. The decontamination that Ginkgo carries out is important for the future of Europe’s cities, where 3.5 million former industrial sites sit vacant.