French authorities and EIF sign the first JEREMIE agreement in France. Languedoc-Roussillon will be the first region in France implemeting JEREMIE. EIF will manage the EUR 30m Holding Fund which will enhance SME finance in the region, with a particular focus on innovation. To read the official press release click here.
About JEREMIE
JEREMIE (Joint European Resources for Micro to Medium Enterprises) is a joint initiative launched by the European Commission (DG Regio), EIB and EIF to improve access to finance for SMEs in the EU within Structural Funds framework for the period 2007 - 2013. JEREMIE enables the EU Member States and Regions to put money from the structured funds into holding funds that can finance SMEs, start-ups and micro-enterprises in a flexible and innovative way. Holding funds will provide SMEs, through financial intermediaries, with a wide range of financing like equity, venture capital, guarantees and micro-loans, together with potential loans from EIB resources. The Holding Fund allows the structural fund money to “be used several times” and hence more SME’s can benefit from the EU money. Sustainable, tailor-made and revolving financial instruments, aiming to develop and foster the role of entrepreneurship within the EU are key elements of the Lisbon agenda and help the structural funding to deliver greater benefits to the market (leverage effect).
About EIF
EIF’s central mission is to support Europe’s small and medium-sized businesses (SMEs) by helping them to access finance. EIF designs and develops venture capital and guarantees 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. The EIF total commitment to Private Equity funds amounted to over EUR 4.5bn at end August 2008. With investments in over 290 funds, the EIF is a leading player in European venture due to the scale and the scope of its investments, especially in high-tech and early-stage segments. The EIF commitment in guarantees totalled over EUR 11.6bn in some 190 operations at end August 2008, positioning it as a major European SME guarantees and securitisation actor and a leading micro-finance guarantor.
Since its activities began, the EIF has indirectly supported some 810,000 SMEs and has thus tremendously contributed to economic growth and development in Europe.
We use cookies to give the best browser experience on our website. or change cookie settings.
Copyright ©
European Investment Fund – The European Investment Fund is not responsible for the content of external internet sites.