New EU finance opportunities for SMEs and technological innovation ahead
As announced at the recent Innovative Enterprise Conference in The Hague, the European Commission, European Investment Fund (EIF) and European Investment Bank (EIB) have launched a new Securitisation Instrument available to banks operating in EU countries. Securitisation is the process where a financial instrument is created, typically by a lender such as a bank, by pooling assets (for example SME-loans) for investors to purchase or guarantee. The EIF will implement the instrument through securitisations in the form of guarantees, as well as by purchasing securitisation notes. The SISI (SME Initiative Securitisation Instrument) is intended to stimulate economic growth and counter fragmentation of the internal market when it comes to access to credit by SMEs.
The purpose of the SISI is to combine the resources of the participating EU countries, which include European Structural and Investment Funds (ESIF), resources of Horizon 2020, as well as resources from the EU Programme for the Competitiveness of Enterprises and SMEs (COSME) and resources from the EIB and EIF.
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