The European Investment Fund (EIF) and the European Commission have launched a new equity platform which seeks to facilitate cooperation between EIF and national promotional institutions or banks (NPIs) across EU Member States. The EIF-NPI Equity Platform will help EIF and NPIs to promote and share knowledge and best practices amongst themselves.
At its first meeting today, the founding members of the platform’s General Forum convened in Luxembourg to sign its charter and to kick-start first discussions on possible cooperation models. Close to 30 NPIs from 18 EU Member States were involved. They included institutions active at both national and regional levels.
This initiative will guide EIF and NPIs to effectively allocate joint investments, particularly where such combined capacity would bring EU added value, including through EFSI-related activities. EIF shares the objectives of NPIs active across the EU of supporting well-functioning European Venture Capital and Private Equity markets to benefit European SMEs and Midcaps.
Commenting on the new initiative, EIF Chief Executive Pier Luigi Gilibert said: “Today’s launch of the EIF-NPI Equity Platform in Luxembourg is an outstanding opportunity for the founding members to identify new ways of sharing best practices and collaborate more closely on issues facing the European Venture Capital and Private Equity markets. I am very pleased to see that numerous NPIs from across Europe have become members of this new platform, which is the first of its kind under EFSI. I am confident that the platform will help to find novel solutions for supporting Europe’s SMEs through equity investments. This will provide a tangible contribution to the objectives of the EU’s Capital Markets Union strategy.”
European Commission Vice-President Jyrki Katainen, responsible for Jobs, Growth, Investment and Competitiveness, said: “In partnership with the EIF, National Promotional Banks and Institutions play a key role in the implementation of the Investment Plan. Their product ranges, local knowledge and geographical reach are invaluable in bringing financing to projects across the EU. In our proposal to extend the European Fund for Strategic Investments (EFSI), the European Investment Bank Group remains a key partner, including in co-financing projects with the EIB Group and other investors. Today’s launch of a new equity platform is a very good first step in increasing cooperation with the European Investment Fund and I hope it will lead to the even greater success when it comes to SME financing under the Investment Plan“.
A list of the founding members of the EIF-NPI Equity Platform can be found below:
About the EIF
The European Investment Fund (EIF) is part of the European Investment Bank Group. Its central mission is to support Europe’s micro, small and medium-sized businesses (SMEs) by helping them to access finance. EIF designs and develops venture and growth capital, guarantees and microfinance instruments which specifically target this market segment. In this role, EIF fosters EU objectives in support of innovation, research and development, entrepreneurship, growth, and employment.
About the Investment Plan
The Investment Plan for Europe focuses on strengthening European investments to create jobs and growth. It does so by making smarter use of new and existing financial resources, removing obstacles to investment, providing visibility and technical assistance to investment projects. The Investment Plan is already showing results. The projects and agreements approved for financing under the EFSI so far (by 26 September 2016) are expected to mobilise EUR 127.2 billion in total investments across 27 Member States and to support almost 290,000 SMEs.
Building on this success, the European Commission on 14 September 2016 proposed extending the EFSI by increasing its firepower and duration as well as reinforcing its strengths. Find the latest EFSI figures including a break-down by sector and by country here. For more information see the FAQs.