Innovation Convention 2011

The EIF, the EIB and the European Commission, have launched today a new guarantee facility for innovative small and medium-sized enterprises (SMEs) to help them access finance from bank: the "Risk Sharing Instrument for Innovative and Research oriented SMEs and small Mid-Caps" (RSI).

RSI will be managed by the EIF. In addition, the EIB and the European Commission are to provide extra resources for research infrastructures. The EIF will offer banks a guarantee on part of their new loans and leases to innovative SMEs, allowing the banks to lend more and to do so at more attractive rates.

RSI  builds on the success of the Risk-Sharing Finance Facility (RSFF), launched in 2007, that has so far helped 75 companies benefit from over €7 billion in EIB loans to projects enhancing European growth and competitiveness.

The amendment to the existing RSFF agreement was signed by Commissioner Máire Geoghegan-Quinn and by EIB President Philippe Maystadt at the start of the 2011 Innovation Convention in Brussels.