Significant and scalable additional guarantee
EIB Group will rapidly mobilise up to EUR 40 billion to fight crisis caused by Covid-19 and calls on Member States to set up a further guarantee for SME and Midcap support from EIB Group and national promotional banks.
The proposed financing package consists of:
· Dedicated guarantee schemes to banks based on existing programmes for immediate deployment, mobilising up to EUR 20 billion of financing;
· Dedicated liquidity lines to banks to ensure additional working capital support for SMEs and mid-caps of EUR 10 billion;
· Dedicated asset-backed securities (ABS) purchasing programmes to allow banks to transfer risk on portfolios of SME loans, mobilising another EUR 10 billion of support.
EIB Group will rapidly mobilise up to EUR 40 billion to fight crisis caused by Covid-19 and calls on Member States to set up a further guarantee for SME and Midcap support from EIB Group and national promotional banks.
The proposed financing package consists of:
· Dedicated guarantee schemes to banks based on existing programmes for immediate deployment, mobilising up to EUR 20 billion of financing;
· Dedicated liquidity lines to banks to ensure additional working capital support for SMEs and mid-caps of EUR 10 billion;
· Dedicated asset-backed securities (ABS) purchasing programmes to allow banks to transfer risk on portfolios of SME loans, mobilising another EUR 10 billion of support.