The European Investment Fund (EIF) and ProCredit Group are providing an additional €800 million to innovative small and medium-sized companies (SMEs), bringing a total of €1.62 billion to companies in eleven countries.
Since the Common Agricultural Policy (CAP) reform of 2013, the administrative costs linked to the CAP did not substantially increase for farmers, representing 2% of the total aid received. As for costs for national authorities, they are estimated at around 3% of the CAP budget, having increased by a third since the implementation of a new system to control and manage payments in 2013. Those are among the main findings of the study ‘Analysis of administrative burden arising from the CAP’, published today by the European Commission.
Thanks to financial support under the EaSI Capacity Building Investments Window, which is managed by the European Investment Fund (EIF) on the European Commission’s behalf, two microfinance institutions in Romania will have more capacity to provide microloans to small businesses.
As of June 2019, the deals approved under the Juncker Plan amount to €75 billion in financing and are located in all 28 Member States. Some 952,000 start-ups and small and medium-sized businesses (SMEs) are expected to benefit from improved access to finance. Currently, the top five countries ranked in order of investment triggered relative to GDP are Greece, Estonia, Bulgaria, Portugal and Latvia.
Working Paper Series No 95 / June 2019
At the Annual Meeting of the EIB Board of Governors in Luxembourg, ministers welcomed the EU Bank’s role delivering the Investment Plan for Europe, ambitious plans to enhance the impact of energy financing and unlocking transformational public and private investment around the world. They also welcomed the EIB’s determination to do even more to fight global warming and the impact of a changing climate.
The Council today adopted two key reforms in the framework of the Capital Markets Union.
- a regulation providing greater choice for people who wish to save for their retirement and expanding the market for personal pensions through the creation of a “pan-European pension product” (PEPPs).
- a package of measures aimed at removing existing barriers to the cross-border distribution of investment funds.
New investment in renewable energy, energy efficiency and urban development projects across Greece will be supported following the first agreement under a new EUR 650 million infrastructure investment initiative.
Climate financing by the world’s largest multilateral development banks (MDBs) in developing countries and emerging economies rose to an all-time high of $43.1 billion in 2018, boosting projects that help developing countries cut emissions and address climate risks. This represents an increase of more than 22 per cent from the previous year, where climate finance totalled $35.2 billion. This is also a 60 percent increase since the adoption of the Paris agreement in 2015 response to the ever more pressing challenge of climate change, which disproportionately affects the poorest and most vulnerable.
The European Investment Bank (EIB) and Intesa Sanpaolo extend their cooperation to provide together new resources to support mid-cap companies and Italian SMEs, with a particular focus on investments in projects related to the circular economy.