European SMEs set to receive €200m boost for green transition
The European Investment Fund and BNP Paribas Leasing Solutions have teamed up to provide a portfolio guarantee of up to €200m for small companies to invest in projects focused on climate change mitigation and sustainability.
Small and medium-sized businesses in France, Germany, Italy and Spain will get a €200m boost to help them invest in four areas: sustainable mobility, energy efficiency, green technologies and renewable energy projects.
Behind the funding boost is the European Investment Fund (EIF) and BNP Paribas Leasing Solutions, backed by the EU's InvestEU programme.
Ambroise Fayolle, EIB Vice-President, said in a statement that the guarantee "fulfils the core mission of both the European Investment Fund and the European Investment Bank Group: accelerating innovation and competitiveness for European SMEs while promoting sustainable economic development through tailored financial solutions."
"Strengthening European economies"
Marjut Falkstedt, CEO of EIF, said the partnership would "inject over €200 million in new financing to accelerate innovation and competitiveness among European SMEs across four European countries, and supporting companies in their transition to low-carbon models".
"This significant guarantee underscores the power of joint efforts in strengthening European economies," she said.
The deal is the EIF's largest multi-country guarantee to date, specifically designed to support energy transition leasing solutions.
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