Press Release: Boosting SMEs in the cultural and creative sectors: European Commission and EIF launch a new guarantee scheme

Author (Corporate)
Series Title
Series Details IP/16/2345 (30.06.16)
Publication Date 30/06/2016
Content Type

The European Commission and the European Investment Fund (EIF) launched on 30 June 2016 a €121 million guarantee initiative to support SMEs in the cultural and creative sectors via financial institutions. This scheme was expected to create more than €600 million worth of bank loans over the next six years.

This initiative allowed the EIF to provide guarantees and counter-guarantees, free of charge, to selected financial intermediaries in order to enable them to provide more debt finance to entrepreneurs in the cultural and creative arena.
Source Link Link to Main Source http://europa.eu/rapid/press-release_IP-16-2345_en.htm
Related Links
ESO: Background information: Website: Creative Europe http://www.europeansources.info/record/programme-creative-europe/
ESO: Background information: The Creative Europe programme: European Implementation Assessment http://www.europeansources.info/record/the-creative-europe-programme-european-implementation-assessment/
European Commission: DG Communication: RAPID: MEMO/16/2346, 30.06.16: Creative Europe’s guarantee facility for the cultural and creative sectors http://europa.eu/rapid/press-release_MEMO-16-2346_en.htm
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