Brussels, 13/09/2012 (Agence Europe) - The European Investment Bank (EIB) plans to set up a guarantee mechanism for SMEs in the Mediterranean. The project, still to be examined by experts, will give a regional character to this mechanism, which will be multiannual and with shared risks. The EIB plans to include other European and international funding bodies (IFC, AFD and OFID). The international financial institutions would be associated as partners.
Through its support to the SME funding sector, the mechanism aims to plug the gap which separates financial services and small enterprises. The direct operators will be local commercial banks, which will be granted a partial guarantee of the credit risk. (FB/transl.fl)