Brussels, 17/09/2015 (Agence Europe) - On Thursday 17 September, the European Investment Fund (EIF) and the German promotional bank KfW Bankengruppe signed a €1 billion agreement over two years for over 15,000 start-ups in Germany.
The agreement is part of COSME- an EU funding programme for SMEs - with the support of the European Investment Plan (EIP), the financial arm of the Juncker Plan that aims to attract €315 billion in additional invesment over three years.
The EIF is part of the European Investment Bank group. It will provide guarantees against the risk of financing the start-ups in German.
Nine member states have said they are prepared to contribute to the Juncker investment plan through their national investment banks to the tune of €42.6 billion in total (see EUROPE 11362 and 11364). Germany has announced that it will contribute €8 billion via KfW. (Mathieu Bion)