The European Investment Fund (EIF) and the Flemish investment group PMV have signed a COSME agreement in Flanders, Belgium. The agreement will allow Participatiefonds Vlaanderen, a subsidiary of PMV, to provide €40 million of loans to SMEs in Belgium over the next two years.
The agreement benefits from the support of the European Fund for Strategic Investments (EFSI) through which the Investment Plan for Europe is being deployed by the European Commission and the EIB Group.
The number of loans granted will increase significantly as a result of a guarantee from EIF under the COSME programme, with financial backing from the European Commission. The agreement will make it possible for Participatiefonds Vlaanderen to support additional financing at favourable conditions to over 700 SMEs. Speaking at the agreement event in Brussels, Marianne Thyssen, EU Commissioner for Employment, Social Affairs, Skills and Labour Mobility said:
“I am very pleased that we are signing the first EFSI agreement with partners in Flanders today. More than 700 SMEs will be able to access €40 million in funding through new loans. The Investment Plan for Europe has been designed to create new jobs and boost innovation. Today this commitment turns into reality in Flanders."
Businesses can contact selected financial institutions in their country to access EU financing. See www.access2finance.eu