InvestEU: EIF and Almi sign agreement to guarantee €211 million in new loans for small companies in Sweden

• Almi is the first financial institution in Sweden to sign an InvestEU guarantee agreement with the EIB Group, supporting innovation, sustainability, and microfinance projects.
• The collaboration is expected to accelerate the green transition for many Swedish businesses.

The European Investment Fund (EIF) and Almi have signed the first agreement supported by InvestEU in Sweden. This agreement will unlock €211 million in loans for SMEs, small mid-caps and micro enterprises across Sweden. According to the agreement, the EIF will provide three distinctive guarantees targeting different policy areas.

The InvestEU Sustainability Guarantee will support about €58 million in new loans for SMEs and small mid-caps to contribute to Europe’s green transition. Thanks to the guarantee, Almi will be able to further support the transition to a green and sustainable economy by backing green and inclusive investments.

A further €51 million in loans will be made available under the InvestEU Innovation and Digitalisation Guarantee to support businesses that develop and introduce new products, services and processes. Through this guarantee, Almi will be able to further support innovation and digitalisation driven enterprises, by enhancing access to finance research & innovation intensive SMEs and Small Mid-Caps, as well as supporting the uptake of digital technologies and digital transformation of enterprises.

The InvestEU Microfinance Guarantee will support about €102 million in new loans for microenterprises on more favourable terms. This will enhance access to finance for social and microenterprises experiencing difficulties accessing credit.

The EIF’s new Chief Executive (since 1 January 2023), Marjut Falkstedt, commented: “I am delighted to be signing our first InvestEU guarantee agreement in Sweden with Almi. This deal will allow Almi to increase its lending to small businesses and contribute to boosting innovation, digitalisation and the green transition. Almi is a well-established partner for financing Swedish SMEs, start-ups, and micro-enterprises, and indeed a close partner of the EIF. We are very happy to be building on this strong relationship in order to extend fresh support to Swedish businesses during these challenging times.’’

European Commissioner Paolo Gentiloni added: “Small and medium-sized businesses have long been Europe’s engine for growth. Now, they can also drive our green transition. I am delighted that, thanks to agreements like this, InvestEU is playing an important role in providing innovative businesses in Sweden with the finance they need to fully embrace the green transition.”

Sara Brandt, Executive Vice President, added: “This agreement will strengthen our continued focus to provide complementary financing and support to grow and develop Swedish SME´s in the areas of sustainability, innovation, digitalisation and micro-enterprises. Almi highly values the long-standing cooperation and partnership with the EIF and our joint efforts to invest in sustainable transition and growth.”

Background information
The European Investment Fund (EIF): The EIF is part of the EIB Group. It supports Europe’s SMEs by improving their access to finance through a wide range of selected financial intermediaries. The EIF designs, promotes and implements equity and debt financing instruments targeting SMEs. In this role, EIF fosters EU objectives in support of entrepreneurship, growth, innovation, research and development, the green and digital transitions and employment.

The InvestEU programme provides the European Union with crucial long-term funding by leveraging substantial private and public funds in support of a sustainable economy. It helps generate additional investments in line with EU policy priorities, such as the European Green Deal, the digital transition and support for small and medium-sized enterprises. InvestEU brings all EU financial instruments together under one roof, making funding for investment projects in Europe simpler, more efficient and more flexible. The programme consists of three components: the InvestEU Fund, the InvestEU Advisory Hub, and the InvestEU Portal. The InvestEU Fund is implemented through financial partners who invest in projects using the EU budget guarantee of €26.2 billion. This guarantee increases their risk-bearing capacity, thus mobilising at least €372 billion in additional investment.

Almi AB invests in future growth. We offer loans, venture capital, and business development to companies that aspire to develop and grow sustainably. Our offer includes support of ideas with growth potential that are in the early stages, as well as support of established companies that are in an expansion phase.
Almi is owned by the state together with regional owners and has fourty offices in close vicinity to companies across the country.

Press Contacts

EIB Group: Tim Smit, Tel: +352 691286423, t.smit@eib.org

Almi: Joakim Liljeberg, Tel: +46 722003924, joakim.liljeberg@almi.se

European Commission: Flora Matthaes, Tel: +32 229 83951, flora.matthaes@ec.europa.eu