The Investment Plan continues to deliver. Over the last week, the Plan’s European Fund for Strategic Investments (EFSI) has backed finance for digital innovation in Sweden, access to finance for small businesses in Poland and medical research in Austria.
The European Investment Bank (EIB) is providing Swedish software developer inRiver with €8 million in financing to invest in research and development, expand its market reach and grow its customer base. The European Investment Fund (EIF) and national promotional bank Bank Gospodarstwa Krajowego (BGK) are doubling the size of their loans to Polish SMEs to PLN 2 billion (ca. €500 million).
The loans are expected to reach close to 10,600 small businesses and entrepreneurs across Poland. The EIB is providing €25 million of financing to Austrian biotech company Apeiron Biologics to support the development of new pharmaceutical products to treat cancer, particularly a rare type affecting children.
This is the second medical research project to be signed in recent weeks, after the EIB agreed a €35 million loan to German medical device company MagForce to support the development of a new approach to treating brain tumours. This new approach makes it possible to combat the tumour from within, while sparing surrounding healthy tissue. All of these agreements were made possible through the support of the Investment Plan for Europe, the so-called Juncker Plan.
European Commission Vice-President Jyrki Katainen, responsible for Jobs, Growth, Investment and Competitiveness, said: “These transactions demonstrate the diversity, quality and impact of the investments made possible by the European Fund for Strategic Investments. Whether it is through supporting medical research projects or helping small businesses access the finance they need to expand and create jobs, the Investment Plan is delivering real results across the EU. A final agreement on the extension and reinforcement of the EFSI will allow it to do even more. Therefore we look forward to a swift conclusion to the negotiations by the co-legislators.”
The Investment Plan is now expected to trigger over €225 billion across Europe. For the latest figures country-by-country, see here.
