EIF counter-guarantee under MAP Loan Window for Slovene Enterprise Fund

On 20 February 2004, EIF signed a EUR 5.5m loan guarantee agreement under the framework of the European Commission's "Multiannual Programme for Enterprise (MAP)" with the Slovene Enterprise Fund (SEF). Established in 2000 as a legal successor to the Small Business Development Fund of the Republic of Slovenia, SEF 's objective is to support investment projects carried out by SMEs providing long-term loans and guarantees. By entering into this agreement, the fourth one signed in the Acceding and Accession Countries under the MAP Guarantee Facilities, EIF will for the first time cooperate with an intermediary in Slovenia. Under the agreement, EIF will provide for a counter-guarantee structure with full delegation to the Slovene Enterprise Fund. Additionality will be measured in terms of volumes and enhanced access to debt finance as the new programme particularly targets start-ups.

To mark the signing of this first guarantee agreement in Slovenia, EIF Chief Executive, Mr Francis Carpenter, and EIF Director of Operations, Mr John Holloway, attended the official signing ceremony in Ljubljana.