The European Investment Fund (EIF) and the Société Wallonne de Financement et de Garantie des Petites et Moyennes Entreprises (SOWALFIN) with headquarter in Liège, have signed the first InnovFin and COSME
guarantee agreements in Belgium. These transactions benefit from the support of the European Fund for Strategic Investments (EFSI) through which the Investment Plan for Europe is being
deployed by the European Commission and the EIB Group.
The InnovFin agreement will allow SOWALFIN to provide guarantees on bank loans to innovative companies in the Belgian Walloon region over the next 2 years with the support of a counterguarantee
provided by the EIF and backed under Horizon 2020, the EU Framework Programme for Research and Innovation. The EU support for innovative Walloon companies is expected to
generate a portfolio of EUR 30m bank loans to benefit over 100 companies in 2 years.
The COSME agreement will also provide SOWALFIN with a counter-guarantee allowing the organisation to increase its guarantee volumes over the next 3 years, supporting financially
underserved SMEs in the Belgian Walloon region. The EU support is expected to leverage a portfolio of bank loans of EUR 115m for 500 companies.
Left to right: Alessandro Tappi (EIF) , Jean-Claude Marcourt (Walloon Government), Marianne Thyssen (European Commission), Jean-Pierre Di Bartolomeo et Jean-Sebastien Belle (SOWALFIN).
Photo credits : Liège Aerial view Wikimedia Commons / Group photo ©Commission européenne 2015