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Next articleVolgend Artikel

 14 nov 2019 18:10 

Juncker Plan supports online financing for small and medium companies in Germany


The European Investment Fund (EIF) is investing €30 million in the online creditshelf loan fund, which provides financing to SMEs and small mid-cap companies in Germany. The fund target size is €150 million and it aims to provide loans to more than 150 businesses.

creditshelf

The fund target size is €150 million and it aims to provide loans to more than 150 businesses. The EIF investment is supported by the Juncker Plan's European Fund for Strategic Investments. European Commission Vice-President Valdis Dombrovskis, responsible for the Euro and Social Dialogue, also in charge of Financial Stability, Financial Services and Capital Markets Union, said: “Small and medium businesses are the main drivers of the EU's economy. We need to nurture and sustain them using all means at our disposal. Thanks to this EIF investment under the Juncker Plan, 150 SMEs in Germany will have the opportunity to apply for financing to grow their businesses." The press release is available here. As of October 2019, the Juncker Plan had already mobilised €439.4 billion of investment across the EU, including €31.2 billion in Germany, and supported more than one million start-ups and small and medium businesses. Juncker Plan-backed investments have increased EU gross domestic product by 0.9% and added 1.1 million jobs compared to the baseline scenario. By 2022, the Juncker Plan will have increased EU GDP by 1.8% and added 1.7 million jobs.



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