EIF timeline: 20 years of support to SMEs across Europe

In 2014, EIF celebrated its 20th anniversary – 20 years of support for SMEs across Europe. In the timeline below you will find the milestones of our development.


 
Dec.1992

European Council urges the establishment of a European Investment Fund in order to promote economic recovery in Europe

Jun.1994

On 14th June, EIF is established as a public-private-partnership by its Constitutive General Meeting. Commencement of business activity to finance
Trans-European Network infrastructure (TENs) and guarantees operations in support of SMEs

Dec.1994

ECU 515m in overall commitments for the year

1995/96

EIF launches the Growth and Environment guarantee scheme for SMEs on behalf of the European Commission (DG Environment)

Dec.1996

First securitisation transaction

1997
EIF starts to manage the first programme on behalf of the European Investment Bank (EIB), the European Technology Facility (ETF), a EUR 125.0 million facility
Jan.1997

EIF’s first Venture Capital operation

1998
First SME Guarantee Facility managed on behalf of the European Commission
Mar.2000
The Lisbon Summit calls for an increased support in risk capital initiatives for SMEs
Jun.2000

EIF’s shareholders approve a reform of the institution; EIB becomes majority shareholder of the EIF; EIF becomes the EIB Group's specialist arm for providing risk capital

Dec.2000
EUR 1.6bn in overall commitments for the year
2001

Transfer of TENs guarantee portfolio from EIF to EIB; EIF focuses on support to SMEs

2003

EIF is attributed AAA rating for the first time by Standard & Poor's, Moody's and Fitch

2004
EIF starts to manage first mandate originated by a third party (European Recovery Programme / Germany)
2006

EIF starts to manage the first Fund-of-Funds on behalf of a European Member State

Apr.2007

EIF’s first capital increase

2007

EIF starts to manage the Competitiveness & Innovation Framework Programme (CIP) on behalf of the European Commission (DG Enterprise). EIF partners with Member States by starting to manage the JEREMIE initiative on behalf of the European Commission (DG Regional Policy) under which EIF manages EU structural funds on behalf of regional or national managing authorities

2009

EIF starts to manage the Mezzanine Facility for Growth (MFG) on behalf of the EIB           

2010

EIF starts to manage the European Progress Microfinance Facility on behalf of the European Commission (DG Employment) and the EIB

2011

EIF starts to manage Risk Sharing Instrument (RSI) on behalf of the European Commission
(DG Research & Innovation)

2013

EIF employs 280 staff and has 27 shareholders and records EUR 3.4bn in overall commitments for the year 2013 in a total of 163 transactions, benefitting 140,000 SMEs across Europe

Dec.2013

EIF’s role considerably strengthened by endorsement of the EIB Board of Directors to increase EIF’s capacity. The expansion will be based on two pillars: a capital increase and a mandate through which the EIB will make available up to EUR 4bn over the next 7 years

 

 
 

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