Agreement with EIB
In July 2019, SGEF Poland has signed an EUR 100 million agreement with the European Investment Bank (EIB) to finance SMEs, and this week, SGEF Scandinavia (SG Finans) renewed its collaboration making available additional EUR 150 million credit line in Denmark and Sweden.
Since 2009, the global funding envelope between SGEF Poland and EIB reached threshold of 1 billion euros.
The results of the surveys carried out April - July 2018 by the EIB prove that about 25 percent of Polish companies believe they have invested too little in the last three years. This score is higher than the EU average. SGEF Poland’s financing reaches SMEs and the private sector, ie the enterprise sector, which is one of the lowest in the EU and is characterized by a particularly low level of investment.
Funds will be used to finance projects whose value does not exceed EUR 12.5 million, in particular for material investments related to the purchase of machinery and equipment, means of transport as well as IT and medical equipment.
For SGEF Scandinavia, while 70% of the funding is earmarked for SMEs, at least 10% of the available funding will be channelled to projects supporting the energy transition of the SME sector.
“The pace of transition to zero or low emission technology is impressive in Scandinavia, and through the renewed collaboration with the EIB, SGEF in Scandinavia can further advice and support clients in their transition to a greener future.” Hans Einar Herzog, Deputy CEO at SG Finans.