The European Investment Fund (EIF) and the high officers of the Slovak Government signed the JEREMIE funding agreements aimed at supporting small and medium sized enterprises (SMEs) in the country.
These funding agreements committed contributions to set up the €100m holding fund. It is financed from EU structural funds under the Operational Programmes Competitiveness and Economic Growth, Research and Development and Bratislava Region under the 2007-2013 programming period.
A contribution from the Operational Programme Environment is also expected to be finalised before year end.
JEREMIE, the Joint European Resources for Micro to Medium Enterprises initiative of the European Commission and the European Investment Fund, aims to facilitate access to finance for SMEs.
The initiative enables the EU member states and regions to put money from the structural funds, co-financed by national resources, into holding funds that can indirectly finance SMEs in a flexible and innovative way. Since the instruments are designed on a repayable basis, funding returned will be reinvested and hence more SMEs will benefit from the EU resources.