What we do
The EIF in 2020
Coronavirus: The EIB Group’s initiatives to address its economic consequences
Pan-European Guarantee Fund – EGF
Sustainable Development Umbrella Fund
SDUF Health Compartment
Equity products
AI Co-Investment Facility
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
VentureEU
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
InnovFin SME Guarantee Facility
COSME - Loan Guarantee Facility
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
Dutch Future Fund (DFF)
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
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
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)
EstFund
FOSTER TPE-PME Occitanie
Greater Anatolia Guarantee Facility (GAGF)
G43 - Anatolian Venture Capital Fund Project
InvestBG Equity Instrument
JEREMIE
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

EIB Group-EC SME Initiative: Malta to implement new financing initiative

  •  
    Date: 15 July 2015

The EIB Group (EIB and EIF) has concluded an agreement with the Government of Malta and the European Commission for the implementation of the SME Initiative in Malta. The agreement was signed today in Valletta by EIF Chief Executive Pier Luigi Gilibert and the Parliamentary Secretary for the EU Presidency and EU Funds Hon. Dr. Ian Borg within the office of Deputy Prime Minister of the Republic of Malta.

Malta is contributing an amount of EUR 15 million from its European Structural and Investment Funds (ESIF) to this new EU initiative. The EUR 15 million contributed by the Government of Malta will be leveraged with commercial lending through a risk-sharing mechanism. This will result in more SMEs benefiting from European resources on advantageous terms, such as reduced interest rates and improved collateral requirements. It is expected that more than EUR 60 million of new SME financing will be supported under this programme. This financial instrument will act as a catalyst for private investment and foster job creation.

The SME Initiative entails an innovative change in the use of ESIF, combining the latter with EU central budget (resources from the Horizon 2020 programme) and EIB group funds.

Commenting on the new initiative, EIF Chief Executive Pier Luigi Gilibert said: “I am extremely pleased that EIF and Malta are implementing this important initiative, which will generate more than EUR 60 million of SME financing over the coming years. The combination of European Structural and Investment Funds, EU Horizon 2020 and EIB Group resources allows EIF to provide risk-sharing and capital relief to financial intermediaries for the ultimate benefit of SMEs. I am grateful to all the parties involved for the good collaboration leading to the launch of this joint initiative.”

During the signing ceremony, Deputy Prime Minister Hon. Louis Grech commented that: “The Government will be allocating EUR 15 million to the SME initiative intended to support investment and development of local SMEs. It is expected that over 800 SMEs will benefit, with the instrument expected to leverage EUR 60 million in private financing. Such initiatives provide a strong opportunity for European citizens, to relate to the Union, and, are a visible demonstration of the benefits of EU membership.”

Parliamentary Secretary Hon. Dr Ian Borg who also addressed the conference explained that: “This Financial Instrument will open up further opportunities for Investment for SMEs. This initiative will play a crucial role in the growth of the Maltese economy as an important source of employment.”  

Commenting on the signature, Corina Creţu, European Commissioner for Regional Policy said: "I congratulate the Maltese authorities for their commitment to strengthening SME competitiveness. The launch of the SME Initiative in Malta today is a good example of how European institutions, national authorities and the private sector can work together to help SMEs with the financing needed for their investment projects. This is exactly what the Commission is also doing through the Investment Plan: supporting businesses that drive innovation and job creation and helping to fund similar initiatives to achieve growth, employment and prosperity across the EU."

About EIF

The European Investment Fund's (EIF) is part of the European Investment Bank group. Its central mission is to support Europe's micro, small and medium-sized businesses (SMEs) by helping them to access finance. EIF designs and develops venture and growth capital, guarantees and microfinance 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. EIF’s total net commitments to private equity funds amounted to over EUR 8.8bn at end 2014. With investments in over 500 funds, 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. EIF’s guarantees loan portfolio totalled over EUR 5.6bn in over 350 operations at end 2014, positioning it as a major European SME guarantees actor and a leading micro-finance guarantor.

EIF: David Yormesor
Tel.: +352 42 66 88 346, e-mail: d.yormesor@eif.org

 

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 2021 – The European Investment Fund is not responsible for the content of external internet sites.