1 3 rd SME Conference Financial Instruments for SMEs in COSME Ljubljana, 5 April 2016 Directorate-General for Internal Market, Industry, Entrepreneurship and SMEs Unit H3, Astrid Bartels (Team Leader COSME Financial Instruments) Ulla Hudina, European Commission Representation in Slovenia

COSME financial instruments overview Budget: 60% of total COSME programme - over €1.3 billion Support those SMEs which would otherwise not obtain financing Overall targets supporting up to SMEs Debt and equity financial instrument:  Loan Guarantee Facility (LGF)  Equity Facility for Growth (EFG) 2

Targets of the Financial Instruments Loan Guarantee Facility – LGF: Policy objective: Enable access to finance for higher risk SME transactions Direct and counter-guarantees: For financial intermediaries for newly generated SME financing portfolios Broad transaction coverage: working capital, bank loans, subordinated loans, bank guarantees, leasing transactions Equity Facility for Growth – EFG: Policy objective: Attract private capital into venture capital (VC) investments, support creation of a pan-European VC market Venture capital investments: Focuses on funds investing into SMEs at the growth and expansion stage (complementary to Horizon 2020 early stage facility) 3

EU financial instruments in practice

5 17 Countries where agreements have been signed for €341m (28 agreements signed out of which 17 thanks to European Fund for Strategic Investments – EFSI) Financial intermediary Budget (€m) 1Austria Wirtschaftsservice GmbHAT7,3 2Flemish Participation FundBE3,4 3SowalfinBE3,7 4CIBankBG4,1 5CMZRBCZ5,7 6Komercni BankaCZ2,8 7The Danish Growth Fund (Vaekstfonden)DK3,6 8KREDEX - Credit and Export Guarantee FundET4,5 9 BPCE (ex Banque Fédérale des Banques Populaires-representing the SOCAMAs) FR31,5 10France Active GarantieFR8,3 11GE Capital Equipement FinanceFR11,4 12 LfA Förderbank Bayern on behalf of other Landesbanken DE3,8 14KfW (Kreditanstalt für Wiederaufbau)DE76,8 15Buergschaftsbank Northrhine-WestphaliaDE18,0 16K&H BankHU2,4 17Credito Emiliano S.p.A. (CREDEM)IT13,8 18 Banca del Mezzogiorno – MedioCredito Centrale S.p.A. IT27,5 19Società Regionale di Garanzia Marche SCpAIT15,6 20Crnogorska Komercijalna Banka ADME1,1 21QreditsNL1,6 22Bank Gospodarstwa Krajowego (BGK)PL8,7 23Idea Bank S.A.PL4,7 24Libra Internet Bank S.A.RO3,0 25Slovene Enterprise FundSL8,1 26Nuevo MicroBank S.A.U.ES35,8 27Cersa Compania Espanola de Reafianzamento S.A.ES29,8 28Orange Money Ltd.UK2,8 29IwocaUK1,4

COSME Equity Facility Implementation First transactions signed end of 2015: Investment in 3 multi-stage funds, together with the early-stage equity facility under InnovFin (Horizon 2020); funds established in the Netherlands, Italy and France Investment in 2 expansion and growth stage funds in Germany and Austria Another 4 transactions already approved by the EIF Board of Directors and additional proposal currently under due diligence by the EIF 6

Find EU Funding: Access to finance portal Single portal for all EU financial instruments All EU languages, 38 countries with over 1000 intermediaries, access to more than €100 billion of financing clicks per month, more than 67% of users visit the site more than four times Promotional video 7

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