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The European Investment Fund (EIF) and UniCredit Bank Austria are expanding their partnership. An earlier, EUR 200m guarantee agreement from 2016 is now set to be increased to EUR 500m, with the EIF using the InnovFin SME Guarantee Facility to back new loans from UniCredit Bank Austria totalling EUR 300m.
This has been made possible by support from the European Fund for Strategic Investments (EFSI), the central pillar of the Investment Plan for Europe. Resources from Horizon 2020 – the EU Framework Programme for Research and Innovation – have also been included. UniCredit Bank Austria will make the additional EUR 300m available in the form of loans to innovative Austrian firms by mid-2021.
EIF Director Hubert Cottogni said: “A further EUR 300m in...
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