EIF and Catalan Finance Institute Partner to Fund Sustainability Projects for SMEs in Catalonia

(IN BRIEF) The European Investment Fund (EIF) and Catalan Finance Institute (ICF) have signed a €40 million guarantee agreement under the InvestEU programme to support sustainability projects by SMEs and mid-caps in Catalonia. The agreement will enable ICF to mobilize up to €57 million for initiatives focused on energy efficiency, renewable energy, and electric vehicle promotion. This builds on a previous EIF-ICF partnership that supported social and cultural projects, further advancing sustainable and green growth in the region.

(PRESS RELEASE) LUXEMBOURG, 20-Dec-2024 — /EuropaWire/ — The European Investment Fund (EIF) and the Catalan Finance Institute (ICF) have entered into a €40 million portfolio guarantee agreement under the InvestEU programme to finance sustainability-focused initiatives by SMEs and mid-caps in Catalonia. With this agreement, ICF is set to mobilize up to €57 million for projects aimed at reducing carbon footprints, improving energy efficiency, promoting renewable energy, and supporting electric vehicle adoption.

Backed by the InvestEU portfolio guarantee product for sustainability and climate action, this initiative aligns with the EU’s goal of leveraging €372 billion in additional investments between 2021 and 2027 to advance its policy priorities. The collaboration builds on an earlier agreement between EIF and ICF from February 2024, which mobilized €64 million to support social, cultural, and creative projects in the region. This latest partnership underscores the ongoing commitment to fostering green and sustainable growth in Catalonia.

Background information

About the European Investment Fund

The EIF is part of the European Investment Bank Group. Its central mission is to support Europe’s microenterprises and SMEs by helping them to access finance. The EIF designs and develops venture and growth capital, guarantees and microfinance instruments that specifically target this market segment. In this role, it contributes to the achievement of key EU policy goals such as competitiveness and growth, innovation and digitalisation, social impact, skills and human capital, climate action and environmental sustainability.

About InvestEU

The InvestEU programme provides the European Union with crucial long-term funding by leveraging substantial private and public funds in support of a sustainable recovery. It also helps mobilise private investment for EU policy priorities, such as the European Green Deal and the digital transition. The InvestEU programme brings together under one roof the multitude of EU financial instruments currently available to support investment in the Member States, making funding for investment projects in Europe simpler, more efficient and more flexible. The programme consists of three components: the InvestEU Fund, the InvestEU Advisory Hub and the InvestEU Portal. The InvestEU Fund is channelled through financial partners who will invest in projects using the EU budget guarantee of €26.2 billion. The entire budget guarantee will back the investment projects of the implementing partners, increase their risk-bearing capacity and thus mobilise at least €372 billion in additional investment.

About the Catalan Finance Institute

ICF is the public financial institution of the regional government of Catalonia, and its main goal is to boost the growth of companies and other organisations. It finances relevant and transformational projects through loans and capital, with a special emphasis on the green transition, reindustrialisation and social housing. ICF often supplements commercial bank lending, offering long repayment terms to facilitate debt repayment. Since 2014, it has been a member of the European Association of Public Banks (EAPB), which brings together many of the public banks and financial institutions operating in Europe.

About ICF EcoVerda loans

Since 2018, ICF has provided financing for 84 businesses, organisations, residents’ associations and energy communities. It has done so by granting €167.6 million in ICF EcoVerda loans to support projects that benefit the environment.

Media Contacts: 

EIF:

Maite Cordero | m.corderomunoz@eib.org | Tel.: +34 606 66 82 62

Website: www.eif.org | Press Office: +352 4379 21000 | press@eib.org

X: @eif_eu

ICF:

Natalia Touzón, Head of Communications: ntouzon@icf.cat | +34 687 469 946

Javier Castillo, Communications Technician: jcastilloc@icf.cat | +34 672 635 066

X: https://twitter.com/icfcat

Website: https://www.icf.cat/

SOURCE: European Investment Fund