Page 53 - Annual Report 2010

Regional Business Development

As part of the JEREMIE initiative, EIF developed new products mobilising EU structural funds towards SME financing: the Funded Risk Sharing Product (FRSP) and the First Loss Portfolio Guarantee (FLPG) (as described under the guarantee sect ion). Overall, 16 Calls for Expression of Interest to select Financial Intermediaries for venture capital or risk- sharing instruments in the respective countries and regions have been launched which resulted in 15 signatures for a total of EUR 311m in 2010.

These developments demonstrate that EIF’s role extends beyond the implementation of the JEREMIE Holding Funds to establish and develop strong relationships in all markets in which it is active, often through a local presence. It is also building its knowledge of the specific needs of lo-cal markets, promoting the full range of EIF products and services and developing new targeted products.

Holding Funds under management

as of 31 December 2010 (in EURm)

Latvia

92

Lithuania

210

Campania

90

Languedoc Roussillon

30 Bulgaria

200

Total amount signed 1176

51

Romania

100

Slovakia

100

Cyprus

20

Greece

250 Malta

10

Sicily

75