Capital increase for EIF boosts finance for COVID-19 impacted companies
The shareholders of the European Investment Fund have approved a 64% increase in its total authorised capital from €4.5 billion to approximately €7.4 billion.
As a result of the capital increase, the EIF will be well-placed to mobilise significantly greater financial support, facilitating access to finance for SMEs and small midcaps, and strengthening the venture and growth capital ecosystem in Europe.
The capital increase will help EIF to deploy a significant portion of the new €26 billion InvestEU programme of the European Union, thereby contributing to a wide array of EU policy goals.
In parallel, the EIF is well-placed to roll-out SME-focused activities including the EIB Group’s €25 billion Pan-European Guarantee Fund, an initiative aiming to shield businesses against the damaging effects of the pandemic.
