The EGF provided guarantees to free up capital for national promotional banks, local banks and other financial intermediaries in order to make more financing available for small and medium companies, mid-caps and corporates.
The €24.4 billion fund was set up in May 2020 by the EIB Group with contributions from 22 EU Member States. By mobilising extra finance from the private sector, we expect to generate about €186 billion for the economy.
Participating EU Member States provided guarantees proportional to their share in the EIB's capital. The EGF Contributors’ Committee, made up of representatives from these Member States, approved the operations that benefitted from the guarantee.
The signature period for EGF-supported projects ended on 31 December 2022.
The guarantee covers losses that may occur in the EGF operations of the EIB Group, including the EIB and the European Investment Fund, its specialised SME-financing arm.
The EGF provided:
Intermediated finance for SMEs, mid-caps, corporates and public sector healthcare organisations
Direct finance for innovative and fast-growing companies and public healthcare organisations
Financing for financial institutions, with additional support from the EIF
Financing collective investment vehicles such as funds, with additional support from the EIF
Data as of 31 December 2022. Read the disclaimer
Signed
Projects approved by the EIB or EIF boards, with signed contracts.
EGF financing
The part of the project supported by the European Guarantee Fund. Signed projects are listed with the actual amounts stipulated in the contract, but this figure may differ from the amount initially approved by the EIB or EIF boards.
Expected investment mobilised
The total financing expected to be mobilised for the project under the European Guarantee Fund from public or private institutions. This includes the EIB Group’s contribution.
The governance of the European Guarantee Fund (EGF) was designed to balance close involvement of the EIB Group governing bodies and the Contributors on the one hand, and the need for a lean and quick decision-making process on the other.
The EIB Group governance structures remain fully applicable to the EGF operations. That is, the governing bodies of the European Investment Bank and European Investment Fund approve the overall financing proposals, in line with their normal procedures. The Contributors’ Committee also approve the use of EGF resources.
Contributors’ Committee
The Contributors’ Committee consists of representatives from all participating Member States. EIB Vice-President Ambroise Fayolle presides over meetings of the Contributors’ Committee, without a right to vote.
The Committee’s main responsibility is to approve the use of EGF resources for individual operations and global authorisations, presented by the EIB and/or the EIF.
The Contributors’ Committee also oversees the activities falling under the EGF. In this context, EIB Group services provide ex-ante risk estimations for the proposed operations, closely monitor the development of underlying portfolios based on information received by the Financial Intermediaries as well as regularly report on the implementation of such operations to the Contributors Committee.
Decisions of the Contributors’ Committee
We publish all the operations that have been approved by the Contributors’ Committee on our project list.