20 billion anti-crisis funds from European Guarantee Fund

22 countries have joined the EGF, 17 of which financial institutions have successfully passed the selection process. Poland is currently in high 5th place in terms of the number of approved EGF projects – ahead of, among others, Sweden, Belgium and Germany. The leaders are countries such as Italy, Spain and France.

More than PLN 14 billion from thirteen financial institutions from Poland will go to Polish entrepreneurs this year. It is estimated that during the entire period of the European Guarantee Fund’s activity, they will be able to benefit from anti-crisis financing estimated at up to PLN 20 billion.

Financial institutions can take advantage of the credit risk protection provided by the three EGF guarantee lines. The two lines provided by the European Investment Fund (EIF) are geared towards financing mainly SMEs, and the line managed by the EIB is geared towards financing large enterprises and healthcare entities. Guarantees are issued on a portfolio basis at the level of individual transactions, included in the portfolio by eligible financial institutions on the basis of delegation from the EIB or EIF for credit decision making, monitoring and recovery. Both public and private credit and financial institutions (including leasing and factoring entities) or loan funds as well as national promotional banks (BGK in Poland) were invited to cooperate. A financial institution makes credit decisions based on its own policies, rules and guidelines, mainly relating to credit risk, which are assessed during the due diligence stage that is carried out to qualify the institution for cooperation with the EIB or EIF.

European guarantees affect favorably reducing the capital requirements of banks. The condition for offering credits or loans with EGF guarantees is the transfer of benefits from the guarantee from public funds to end recipients, i.e. entrepreneurs. Thus, the EGF guarantees facilitating access to finance by stimulating new lending in the current adverse market conditions. The benefits that customers gain include: easing credit restrictions and policies for certain types of debtors or sectors, lower financing price, no need to establish other material collateral.


Our privacy policy