The European Investment Fund (EIF) and Cassa di Risparmio di Bolzano – Südtiroler Sparkasse (CRB) signed a guarantee agreement on 19 October on a EUR 60 million portfolio of loans to improve access to finance for SMEs in Italy. This agreement benefits from the support of the European Fund for Strategic Investments (EFSI), the heart of the Investment Plan for Europe, the Juncker Plan.
Meanwhile, in France, Groupe BPCE signed a new guarantee agreement on 19 October with the EIF that will provide EUR 700 million in loans to French SMEs. This is Groupe BPCE’s third partnership as part of the InnovFin program which facilitates access to financing for growth projects for companies in Europe. The European Investment Bank (EIB) agreed on 17 October to provide a EUR 330 million EFSI-backed loan to construct the Blankenburg tunnel connection near the municipality of Rotterdam in the Netherlands. The new connection is set to alleviate traffic around Europe’s busiest port, as well as ease traffic on nearby motorways leading to Belgium and Amsterdam. On 11 October, the EIF and Banque et Caisse d'Épargne de l'État, Luxembourg (BCEE) signed a new InnovFin guarantee agreement on a EUR 40 million portfolio of loans to improve access to finance for SMEs in Luxembourg, while in Poland an EIF agreement with PKO Leasing S.A. under COSME (the EU programme for the Competitiveness of Enterprises and Small and Medium-sized Enterprises) is expected to generate PLN 1.5 billion (approx. EUR 348 million) in new financing for 10,000 Polish SMEs.