The European Investment Fund (EIF) and UniCredit Leasing have signed an InnovFin SME guarantee agreement to enhance access to finance for innovative small and medium-sized enterprises (SMEs) in Latvia, Lithuania and Estonia. This agreement is expected to generate a loan portfolio of EUR 18 million over the next two years. This transaction benefits from the support of the European Fund for Strategic Investments (EFSI), the heart of the Investment Plan for Europe. European Commission Vice-President Jyrki Katainen, responsible for Jobs, Growth, Investment and Competitiveness, said: “SMEs are crucial drivers of jobs and growth in the Baltic states and Europe generally. It is therefore essential to facilitate their access to the new financing solutions that will enable them to grow and create jobs. I am glad that the Investment Plan for Europe is making it possible for SMEs across the Baltic region to benefit from loans and leases that would otherwise not have been available to them.” A full press release is available here.
