The European Investment Fund (EIF) and the European Commission are launching specific COVID-19 support under the COSME Loan Guarantee Facility (COSME LGF), which is also open to financial intermediaries supporting SMEs in Armenia, the Republic of Moldova and Ukraine.
Under this scheme, the EIF will be able to provide enhanced terms and conditions for guarantees and counter-guarantees to incentivize financial intermediaries to provide working capital financing to European SMEs hit by the economic impact of the coronavirus pandemic. These guarantees are open to existing financial intermediaries (i.e. those already operating under COSME LGF) and to new applicants.
The COVID-19 support includes additional guarantee envelope dedicated to support working capital financing. This COVID-19 guarantee envelope is available to financial intermediaries established in EU Member States and COSME Associated Countries, by submitting an application to the EIF.
Interested parties who wish to submit an applications are invited to consult the full details in the call documents under NEW COVID-19 SUPPORT.
The deadline for application has been set to 30 June 2020.