Brussels, 14/03/2014 (Agence Europe) - On Friday 14 March, EU member states' representatives to the EU (COREPER) agreed on the participation of the European Union in the capital increase of the European Investment Fund (EIF), to restore normal lending to the economy, particularly small and medium-sized enterprises.
The European Union will buy 450 new EIF shares for a nominal value of €1 million each over a four-year period starting in 2014, explained the Greek Presidency in a press release. Á total amount of up to €178 million for the period from 2014 to 2017 will be available within the general budget of the European Union to cover the cost of the subscription.
The European Parliament is expected to rubberstamp the agreement at its April plenary. (MB)