Investment Plan for Europe: financing deals for SMEs signed in Croatia and Germany

The European Investment Fund (EIF) has signed two agreements today to benefit small and medium sized businesses, both of which benefit from the support of the European Fund for Strategic Investments (EFSI), the heart of the Investment Plan for Europe. Commissioner Mimica, responsible for International Cooperation and Development, is in Zagreb to witness the signing of the first EFSI deal for SMEs in Croatia. Speaking at the event, he said: "Small companies in Croatia are in great need of financing to grow their businesses and create jobs. The agreement signed today by the EIF and HBOR with the support of the Investment Plan will help SMEs access HRK 150 million (EUR 20 million) of fresh loans. I also encourage those companies in need of investment to use the Advisory Hub to get technical support and the new Project Portal to advertise their projects." Meanwhile in Berlin, the EIF and NRW.BANK along with six regional promotional banks signed an agreement to provide EUR 110 million of loans to innovative companies in Germany. Commission Vice-President Jyrki Katainen, responsible for Jobs, Growth, Investment and Competitiveness, stated: “This new EFSI transaction with NRW.BANK and the six regional German institutions shows that the Investment Plan is gaining more visibility in Europe. I am thankful to NRW.BANK for coordinating this agreement, which will allow easier access to finance for SMEs across Germany. Regional and local financial institutions and authorities have a very important role to play under the Investment Plan and I encourage other Member States to work together at regional level.”