What we do
The EIF in 2020
Coronavirus: The EIB Group’s initiatives to address its economic consequences
Pan-European Guarantee Fund – EGF
Institutional investors
Equity products
AI Co-Investment Facility
Climate & Infrastructure Funds
Technology Transfer
European Angels Fund (EAF) - Co-investments with Business Angels
Venture capital
The Social Impact Accelerator (SIA)
Lower mid-market
Mezzanine Facility for Growth
EFSI Equity instrument
Single EU Equity Financial Instrument
COSME - Equity Facility for Growth
InnovFin Equity
Private equity secondary market transactions
EIF-NPI Equity Platform
ESCALAR Programme
Debt products
New ESIF ERDF Guarantee Fund initiative in Greece
EFSI Private Credit Programme
AGRI Guarantee Facility
AGRI Italy Platform Uncapped Guarantee Instrument
Credit enhancement
Cultural and Creative Sectors Guarantee Facility (CCS GF)
ENSI - Securitisation Initiative
Erasmus+ Master Loan Guarantee Facility
Skills & Education Guarantee Pilot
EREM debt products
Single EU Debt Financial Instrument
Documentary Finance Facility – Bulgaria
The SME Initiative
The SME Initiative Bulgaria
The SME Initiative Finland
The SME Initiative Italy
The SME Initiative Malta
The SME Initiative Romania
The SME Initiative Spain
Inclusive finance
EaSI Financial Instruments
EaSI Capacity Building Investments Window
EaSI Guarantee Instrument
EaSI Funded Instrument
European Progress Microfinance Facility
Entrepreneurs supported through Progress Microfinance
European Fund for Strategic Investments (EFSI)
How does EIF contribute to EFSI
How to apply for EFSI financing
Regional Development - Country and sector-specific initiatives
Fons d’Inversió en Tecnologia Avançada (FITA) Catalonia
Dutch Future Fund (DFF)
Dutch Alternative Credit Instrument (DACI)
PORTUGAL BLUE: a new initiative for blue economy investments
JEREMIE Greece Reflows – Business Angels’ Co-Investment Equity Instrument
German Corona Matching Facility (CMF)
Portugal Growth programme
Croatian Growth Investment Programme (CROGIP)
AGRI Italy Platform Uncapped Guarantee Instrument
ALTER’NA – ESIF EARFD Nouvelle-Aquitaine
Baltic Innovation Fund 1 (BIF 1)
Baltic Innovation Fund 2 (BIF 2)
Central Europe Fund of Funds (CEFoF)
Croatian Venture Capital Initiative (CVCi FoF)
Competitiveness Fund-of-Funds for SMEs in Romania
The Cyprus Entrepreneurship Fund (CYPEF)
Deep and Comprehensive Free Trade Area Initiative East Guarantee Facility (DCFTA)
Dutch Growth Co-Investment Programme
Dutch Venture Initiative (DVI-II)
ESIF Fund-of-Funds Greece
EAFRD FoF Portugal
EAFRD FoF Romania
The ERP-EIF Facility
ERP-EIF Co-Investment Growth Facility
The LfA-EIF Facilities
The German Future Fund (GFF) - EIF Growth Facility
INAF – French National Agricultural Initiative
ESIF Energy Efficiency and Renewable Energy Malta
Regional Fund-of-Funds Romania
ESIF Fund-of-Funds Czech Republic
The Silesia EIF Fund of Funds
La Financière Région Réunion
The EIB Group Risk Enhancement Mandate (EREM)
Greater Anatolia Guarantee Facility (GAGF)
G43 - Anatolian Venture Capital Fund Project
InvestBG Equity Instrument
Romania Recovery Equity Fund of Funds
JEREMIE Romania Reflows – Equity Instrument
Luxembourg Future Fund (LFF)
Mezzanine 'Fund of Fund' for Germany (MDD)
Polish Growth Fund of Funds (PGFF)
Portugal Venture Capital Initiative (PVCi)
Scottish-European Growth Co-Investment Programme
Slovene Equity Growth Investment Programme (SEGIP)
Swedish Venture Initiative (SVI)
Turkish Growth and Innovation Fund (TGIF)
Western Balkans Enterprise Development & Innovation Facility (WB EDIF)
EAFRD FoF Greece
Irish Innovation Seed Fund (IISF)

How EFSI benefits SMEs in Europe - Česká Sporitelna case study: PAPCEL Czech Republic, Manufacturing; Machines for the paper industry


Over the past 65 years, PAPCEL has specialised in the production of machines and technological equipment for the paper industry. Located in Litovel, in the eastern part of the Czech Republic, PAPCEL was founded in 1950, before being bought by the Dostál family. Today, PAPCEL has grown into an international company with subsidiaries in other countries. The Group’s 420 employees have developed 20 innovations in 2015 and have worked on over 50 international projects in total, with as much as 98% of production exported outside of the Czech Republic.

David Dostal, PAPCEL’s current CEO, has come a long way in leading the small business to today’s stature. When David was young, he originally planned to work in agriculture, much to his father’s dismay. With time, David’s father convinced him to join the family business. Working his way up, David eventually took over the company in 1995. He gained management experience by learning on the job, and made impressive progress in business turnover over the years. The secret behind David’s success? “The key is to have confidence, be surrounded by good people and have patience”, he explained when he was granted the award of ‘EY Entrepreneur 2014 of the Olomouc region’.

David’s approach is resolutely customer-oriented, reflected in his slogan ‘Growing together – if we allow the customer to grow, so will we’. During an interview for the Pulp & Paper Technology website, he said that: “Probably the most important thing is maintaining personal contact with the customer and gaining the trust in the company’s ability to deliver a comprehensive solution for their investment plan. A direct communication during problem solving and total trust between the two teams when undertaking basic tasks, like during the paper machine construction, are essential.”

In the course of his company’s development, David decided to make use of a loan provided by Česká Sporitelna and jointly guaranteed by EIF and the Investment Plan for Europe, the EU initiative aimed at generating new investments by facilitating access to finance for European small and medium-sized enterprises. This EU-guaranteed loan has allowed for the production and reconstruction of larger paper machines, thus enhancing the company’s competitiveness, but has also created additional jobs within the company.

Company: PAPCEL Czech Republic

Type of business: Manufacturing; Machines for the paper industry

Supporting bank: Česká Sporitelna (CSAS)

EIF financing: InnovFin SMEG, EFSI

For further information about EIF intermediaries in the Czech Republic, please refer to: http://www.eif.org/what_we_do/where/cz


We use cookies to give the best browser experience on our website. or change cookie settings.

Note: Following the recent withdrawal of the United Kingdom from the European Union, we are updating the relevant EIF.org pages.


Copyright ©

 European Investment Fund   – The European Investment Fund is not responsible for the content of external internet sites.