ProCredit Holding AG
ProCredit Holding AG & Co. KGaA: Juncker Plan: EUR 820 million for SMEs as EIF and ProCredit double support for innovative companies
DGAP-News: ProCredit Holding AG & Co. KGaA / Key word(s): Miscellaneous The European Investment Fund (EIF) and ProCredit Group are providing an additional EUR 450 million to innovative small and medium-sized companies (SMEs), bringing a total of EUR 820 million to companies in eleven countries. The EIF-backed financing is now available through ProCredit banks from Germany to Georgia and targets companies using new technologies and producing new products in one of the eleven countries where the facility is available (Germany, Albania, Serbia, FYROM, Bosnia and Herzegovina, Bulgaria, Greece, Romania, Moldova, Ukraine and Georgia). To date, agreements with ProCredit have already supported more than 1,000 innovative SMEs and many more will be financed in the coming years. These agreements were signed under the European Commission’s InnovFin initiative, backed by the EU’s research and innovation programme Horizon 2020. The InnovFin initiative enables participating banks to provide loans to innovative companies with the support of a guarantee provided by the EIF. The agreements signed in EU member state countries were made possible by the support of the European Fund for Strategic Investments (EFSI). The EFSI is the central pillar of the European Commission’s Investment Plan for Europe, also known as the “Juncker Plan”. European Commission Vice-President Jyrki Katainen, responsible for Jobs, Growth, Investment and Competitiveness, said: “The Commission recognises that small businesses drive jobs and growth in Europe. Facilitating access to the finance they need to innovate, expand and create jobs is one of the effective ways by which the EU supports small and medium-sized enterprises across Europe. I wish those set to benefit from this financing every success as they take their next steps.”
About the ProCredit group ProCredit Holding AG & Co. KGaA, based in Frankfurt am Main, Germany, is the parent company of the international ProCredit group, which consists of banks for small and medium enterprises (SMEs) and whose operational focus is on South Eastern and Eastern Europe. In addition to this regional focus, the ProCredit group is also present in South America and Germany. The company’s shares are traded on the Prime Standard segment of the Frankfurt Stock Exchange. The anchor shareholders of ProCredit Holding AG & Co. KGaA include the strategic investors Zeitinger Invest and ProCredit Staff Invest (comprising the investment vehicles for ProCredit staff), the Dutch DOEN Participaties BV, KfW Development Bank and IFC (part of the World Bank Group). As the group’s superordinated company according to the German Banking Act, ProCredit Holding AG & Co. KGaA is supervised on a consolidated level by the German Federal Financial Supervisory Authority (Bundesanstalt für Finanzdienstleistungsaufsicht, BaFin) and the German Bundesbank. More information can be found on the company’s website at www.procredit-holding.com About the Juncker Plan The Investment Plan for Europe, the so-called “Juncker Plan”, is one of the European Commission’s top priorities. It focuses on boosting investments to create jobs and growth by making smarter use of new and existing financial resources, removing obstacles to investment and providing visibility and technical assistance to investment projects. About InnovFin The InnovFin SME Guarantee Facility is established under the “EU InnovFin Finance for Innovators” initiative developed under Horizon 2020, the EU Framework Programme for research and Innovation. It provides guarantees and counter-guarantees on debt financing of between EUR 25,000 and EUR 7.5 million in order to improve access to loan finance for innovative small and medium-sized enterprises and small mid-caps (up to 499 employees). The facility is managed by EIF and is rolled out through financial intermediaries – banks and other financial institutions – in EU Member States and Associated Countries. Under this facility, financial intermediaries are guaranteed by the EU and EIF against a proportion of their losses incurred on the debt financing covered under the facility.
EIF: David Yormesor Tel.: +352 24 85 81 346, E-Mail: d.yormesor@eif.org ProCredit Holding: Andrea Kaufmann European Commission: Enda McNamara
20.07.2017 Dissemination of a Corporate News, transmitted by DGAP – a service of EQS Group AG. |
Language: | English |
Company: | ProCredit Holding AG & Co. KGaA |
Rohmerplatz 33-37 | |
60486 Frankfurt am Main | |
Germany | |
Phone: | +49-69-951437-0 |
Fax: | +49-69-951437-168 |
E-mail: | pch.info@procredit-group.com |
Internet: | www.procredit-holding.com |
ISIN: | DE0006223407 |
WKN: | 622340 |
Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Dusseldorf, Stuttgart, Tradegate Exchange |
End of News | DGAP News Service |