JEREMIE Holding Fund Sicily (ref. calls JER-010/1 - JER-010/2): Information note to the financial intermediaries

   Information note regarding the de-commitment and re-assignment of resources within and between financial products lines implemented under :
1. Call for Expression of Interest JER-010/1  launched on 19 November 2010 (with deadline extended from 25 February 2011 to 22 March 2011) through which resources for an amount equal to EUR 44 million (“JER 010/1 Resources”) were made available to Financial Intermediaries to implement Funded Risk Sharing Financial Instruments for micro, small and medium-sized enterprises [1] in Sicily, and

2.  Call for Expression of Interest JER-010/2  launched on 19 November 2010 (with deadline extended from 25 February 2011 to 22 March 2011)  through which resources for an amount equal to EUR 9 million (“JER 010/2 Resources” and, together with the JER 010/1 Resources, the “JER 010 Resources”) were made available to Financial Intermediaries to implement Funded Risk Sharing Financial Instruments for micro enterprises [2]in Sicily.

EIF informs that in the context of the implementation of the Funded Risk Sharing Financial Instruments by the Financial Intermediaries selected within the Calls, an adjustment of the JER 010 Resources allocation within the communicated budget has become necessary with a view to create a maximum absorption capacity for the benefit of economic activities in the Region in line with the terms and conditions of the Calls.

As a consequence, JER 010 Resources now available from the partial de-commitments of the JER 010 Resources available to the Financial Intermediary selected within the Calls, amount to approximately EUR 22,800,000 (“Available Resources”).

The Available Resources will be allocated to the Financial Intermediary in accordance with the hierarchical ranking of the candidates in the above mentioned JER 010/1 Call selection process with the view to implementing a Funded Risk Sharing Financial Instrument for micro, small and medium-sized enterprises [3] in Sicily.

With reference to the JER 010/1 Call, the maximum loan amount that can be granted to an Eligible SME by Financial Intermediaries is changed from EUR 1m to EUR 1.5m (subject to satisfactory assessment of relevant SME portfolio criteria). This product feature was neither a selection nor evaluation criteria with an impact on the Financial Intermediaries selection result.

Should you decide that you would like to participate in the Financial Instrument due to the above mentioned loan amount change, please inform EIF by no later than 10/06/2014; in the event you had decided not to apply earlier, this requires a justification of why the increase of the loan amount to EUR 1.5m would have changed your strategy making you submitting the Expression of Interest for the JER 010/1 Call to deploy the JER 010/1 Resources to SMEs in Sicily.

The letter shall indicate the reference number of the Call (e.g. JER-010/1). It should be signed by the duly authorized person(s) and sent to the following addresses (both):

Postal Address:

European Investment Fund
Attention: Regional Business Development Unit
15 Avenue J.F. Kennedy
L-2968 Luxembourg
LUXEMBOURG

E-mail address:

Attention: Regional Business Development Unit info.rbd@eif.org