CIP SME European Guarantee Facility Investment Fund This - - PowerPoint PPT Presentation

CIP SME Guarantee Facility European Investment Fund

This presentation was prepared by EIF. The information included in this presentation is based on figures available as of June 2012 unless otherwise specified. Any estimates and projections contained herein involve significant elements of subjective judgment and analysis, which may or may not be correct.

2 / 19

Competitiveness & Innovation Programme

n

CIP financial instruments managed by EIF on behalf of the EC

n

Purposes

n

Encourage the competitiveness of European enterprises

n

Support innovation and entrepreneurship activities

n

Provide better access to finance

n

Promote the increased use of renewable energies and energy efficiency

n

Products

n Guarantees: SME Guarantee Facility n Venture capital: High Growth and Innovative SME Facility

3 / 19

■

Free of charge, capped portfolio guarantees provided for additional risk-taking by intermediaries (guarantee schemes, banks, leasing companies…) resulting in Enhanced Access to Finance for SMEs

■

Enables lenders to further support SMEs: lending criteria can be relaxed

■

Guarantees for investment and working capital loans

■

Selection of intermediaries with wide geographical cover in each country so that as many SMEs as possible have access

■

Minimum selection criteria (commitment to SME financing, financing volumes, geographical reach, etc.) ■ Visibility and promotion of EC support

CIP SME Guarantee Facility

4 / 19

Four facilities, known as "windows“

■

Loan Guarantee Covers portfolios of mid- to long-term debt finance targeting SMEs and focused on investment financing.

■

Micro-Credit Guarantee Covers portfolios of micro-credits to encourage financial institutions to provide financing to microenterprises, especially start-ups

■

Equity Guarantee Covers of portfolios of equity and mezzanine investments in SMEs. Aims to help SMEs improve their financial structure

■

Securitisation Guarantees to support securitisation transactions so that financial institutions may mobilise additional debt financing for SMEs

CIP SME Guarantee Facility Instruments

5 / 19

Map of signed transactions

FIs include: CERSA FdP KfW Siagi Slovene Enterprise Fund SOCAMA UniCredit Bank Hungary Microbank La Caixa Raiffeisenbank Bulgaria Alleanza di Garanzia Federfidi Lombarda Austria Wirtschaftsservice Hipoteku Banka Cultura Sparebank ATI ITALIA PMI A.T.I Fidi. Gar KGF Finansbank Pekao Caixa Capital Micro Privredna Banka Zagreb CKB Montenegro Cacanska Banka Agentschap NL GE Czech Republic

Countries eligible for CIP Guarantees and where agreements have been signed Other countries eligible for CIP Guarantees but where no agreement has been signed to date Other countries and territories

54 agreements signed for EUR 15.6bn corresponding to an aggregate budget allocation of EUR 419m

6 / 19

Implementation – Signatures

The Loan Window remains the flagship of SMEG Loan Window Micro & Q-E Windows Total Agreements 42 12 54 Countries 15 10 19 Committed budget EUR 344.5m EUR 73.3m EUR 418.6m Committed guarantee volume EUR 6,025m EUR 813m EUR 6,838m Leverage 17 11 16

7 / 19

Implementation – Who is supported ?

60% of all supported SMEs are start-ups Loan Window Micro & Q-E Windows Total SMEs supported 136,577 40,337 176,914 Loan volume supported EUR 10,155m EUR 509m EUR 10,664m Average loan EUR 65k EUR 11k EUR 53k Employees (at loan date) 594,697 86,019 680,716 Average number of employees 4.3 2.1 3.8

As of 31 March 2012

8 / 19

Implementation chain

Intermediaries (guarantors or lenders) Lenders SMEs

As of 31 March 2012

CIP