April 19, 2019 20 million euros available for SMEs

LUXEMBOURG - The extension of an agreement related to the Juncker plan, which guarantees loans to small and medium-sized businesses, was announced Wednesday

The European Investment Fund (EIF) and the International Bank in Luxembourg (BIL) announced on Wednesday the extension of the InnovFin agreement, which guarantees loans to small and medium-sized businesses. According to the agreement, 20 million euros are now available for innovative SMEs based in the Grand Duchy who would seek a loan from BIL

'This increase means that the EIF guarantee will cover a portfolio of loans granted by BIL to SMEs and small and medium-sized enterprises for a total amount of EUR 80 million, more than 100 companies being beneficiaries of such loans', stresses the statement from the European Commission.

The Juncker plan is expected to help 929,000 SMEs in 28 member countries to the tune of 390 billion euros.

 (L’essential)