Triodos Bank secures €200m in EIF guarantees to support SMEs across Europe
This initiative is part of the European Commission's InvestEU programme, which targets the support of social entrepreneurship, sustainability, and the cultural and creative sectors.
The latest agreement expands the partnership between Triodos Bank and the EIF, which has delivered over €600m in SME funding across Europe since 2018.
This collaboration has also empowered a wide range of social entrepreneurs, including E-Flight Academy, Fundació Oxígeno, and Nature Snacks, spanning diverse sectors such as healthcare, nutrition, e-mobility, the circular economy, and education.
EIF chief executive Marjut Falkstedt said: 'Our relationship with Triodos Bank is a very successful one, having made available hundreds of millions in attractive financing for SMEs in sectors that are underserved by traditional bank financing.
'Triodos Bank has been instrumental in supporting the creative and cultural sectors, as well as social entrepreneurship, which are at the heart of European values. We are now building on that to also support sustainability in SMEs, which will be a key element in European independence and competitiveness going forward.'
An increase to an existing capped guarantee from 2023 will allow Triodos Bank to offer an additional €89m in new loans for social entrepreneurship.
Meanwhile, a new uncapped guarantee will support sustainability initiatives and the cultural and creative sectors.
The sustainability segment of the uncapped guarantee is expected to provide up to €71m for SMEs' green investments.
The cultural and creative portion aims to generate €43m in new lending, continuing the partnership between Triodos Bank and the EIF.
Triodos Bank chief commercial officer Jacco Minnaar said: 'At Triodos Bank, we have a long track record of financing social entrepreneurship. The past agreements with the EIF have already shown that public and private partnerships can fuel the much-needed transitions towards a better and more sustainable world.
'I am particularly pleased with the introduction of the new guarantee for green investments by SMEs. It shows how our relationship with the EIF is continually developing and is focused on getting financing to where it is most needed.'
"Triodos Bank secures €200m in EIF guarantees to support SMEs across Europe" was originally created and published by Leasing Life, a GlobalData owned brand.
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