Investment Plan for Europe: another Euros 500 million for SMEs in Germany

The European Investment Fund (EIF) and the German promotional bankKfW Bankengruppe have signed an agreement to increase lending to innovative small and medium-sized enterprises (SMEs) as well as small Mid-Caps, benefiting from the support of the European Fund for Strategic Investments (EFSI), the heart of the Investment Plan for Europe. The new agreement allows KfW via on-lending banks to provide innovative companies in Germany with access to a total of Euros 500m of financing over the next 2 years. Speaking at the signing event in Berlin, European Commissioner for Research, Science and Innovation, Carlos Moedas, said: “Germany is one of the leading EU Member States for innovation and I am pleased that it is dedicating more resources to financing innovative companies. The InnovFin SME Guarantee deal signed today with KfW Bankengruppe will open up new ways of funding innovative companies to enable them to grow and create jobs.” (For more information see press release or contact Vanessa Mock – Tel.: +32 229 56194; Siobhan Millbright – Tel.: + 32 229 57361)