What we do
Equity products
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
Pan-European Venture Capital Fund(s)-of-Funds programme
EFSI Equity instrument
Single EU Equity Financial Instrument
COSME - Equity Facility for Growth
InnovFin Equity
Private equity secondary market transactions
EIF-NPI Equity Platform
Debt products
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
EREM debt products
Single EU Debt Financial Instrument
COSME - Loan Guarantee Facility
InnovFin SME 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
Asset Management Umbrella Fund (AMUF)
Inclusive finance
EaSI Financial Instruments
EaSI Capacity Building Investments Window
EaSI Guarantee 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
AGRI Italy Platform Uncapped Guarantee Instrument
ALTER’NA – ESIF EARFD Nouvelle-Aquitaine
Baltic Innovation Fund (BIF)
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)
EAFRD FoF Romania
European Recovery Programme (ERP)
ERP-EIF Co-Investment Growth Facility
INAF – French National Agricultural Initiative
Regional Fund-of-Funds Romania
ESIF Fund-of-Funds Czech Republic
ESIF Fund-of-Funds Greece
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
LfA-EIF Facility
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)

EIF guarantees Hungarian Development Bank’s lending activity

    Release date: 07 October 2004

Luxembourg, 7 October 2004 - Chief Executives of the Hungarian Development Bank (MFB) and of the European Investment Fund (EIF) Mr. Erős, Mr. Czirják and Mr. Carpenter, have signed today in Budapest the first guarantee operation of the Fund to be concluded in Hungary. The signing ceremony took place prior to the EIF Financial Shareholders Meeting, hosted by MFB in Budapest.

This EIF guarantee (of a nominal amount of EUR 20 million) will cover part of the risks taken by the Hungarian Development Bank in the context of the ECONOVA EIF-MFB Risk Sharing Loan Program, which offers long term financing for technology development investments supporting the closing up of the Hungarian economy to the EU and increasing the competitiveness of SMEs. MFB wishes to realise this program in close cooperation with Hungarian commercial banks.

In the view of EIF Chief Executive, Francis Carpenter, the guarantee facility agreement is reflecting the excellent cooperation prevailing with Hungarian Development Bank, which had been the first financial institution of the new member states to join the EIF shareholding, even before the Accession of the country. In operational terms, this guarantee operation in Hungary, linked with an ambitious national loan program, is fully in line with EIF's objectives: support to European technology, balanced development of the European Union, priority given to the new member states.

The funding of the operation is provided by the European Union, in the framework of the Multiannual Programme for SMEs, managed by the EIF.

EIF, a EU financial body and member of the EIB Group, was created in 1994. Already since its inception, EIF has been shaped as a public-private partnership, with a hybrid shareholder base that today includes the European Investment Bank (59.45%), the European Commission (30%), and 31 European financial institutions (10.55%). EIF operates through venture capital investments and SME guarantees (securitisation, loan and microcredit guarantees) and has impacted over 350 000 SMEs in 22 countries. Recently, EIF has launched new advisory services whereby it provides advice based in particular on its expertise as an investor and/or as guarantor.

The overall portfolio of EIF amounts to EUR 10bn: investments in venture capital funds representing EUR 2,5bn (in about 190 funds), guarantee commitments EUR 7,5bn, in 130 transactions with financial institutions.


Copyright ©

 European Investment Fund 2019 – The European Investment Fund is not responsible for the content of external internet sites.