now loading...
Wealth Asia Connect Middle East Treasury & Capital Markets Europe ESG Forum TechTalk
ESG Investing / Treasury & Capital Markets
EIF, UniCredit channel €1 billion to Europe SMEs
Investments target green, digital transitions, promote sustainable mobility development
The Asset 10 May 2023

The European Investment Fund (EIF), part of the EIB Group, is providing UniCredit Group with two guarantees worth €370 million (US$406 million) to boost investment made by small and medium-sized businesses (SMEs) across seven EU countries, including Bulgaria, Croatia, the Czech Republic, Hungary, Romania, Slovakia and Slovenia.

The transactions are backed by InvestEU, the European Union’s long-term funding programme to support sustainable investment, innovation and job creation in Europe aiming to mobilize at least €372 billion in investments for EU policy priorities by 2027.

The EIF guarantees backed by InvestEU will enable UniCredit to provide loans on favourable conditions to 2,500 SMEs and small mid-caps across Europe and mobilize investment of around €1 billion into the real economy. The resources will primarily go towards investments contributing to the twin green and digital transitions, but also to boost the cultural, educational and social sectors.

As part of UniCredit’s green lending strategy, loans will also be provided to housing associations and individuals for their own renewable energy and energy efficiency investments in residential buildings, as well as to promote the development of sustainable mobility.

“The excellent relationship between the EIB and UniCredit Groups is key to reaching as many small businesses as possible across central and eastern Europe, ensuring they have the resources needed to invest in a brighter, more sustainable and innovative future,” says Gelsomina Vigliotti, chair of the EIF. “This operation shows the EIF’s commitment to facilitating access to finance for Europe’s 23 million SMEs, which represent 99% of all businesses and provide around three-quarters of all jobs in the European Union.”

Conversation
Wendy Yeo
Wendy Yeo
director, fund management
iFAST Financial
- JOINED THE EVENT -
In-person roundtable
Asia and the future of funds
View Highlights
Conversation
Mark Witten
Mark Witten
chief investment officer
Portal Asset Management
- JOINED THE EVENT -
Asset Servicing Leadership Series
How digital assets are transforming Asia's investment landscape
View Highlights