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The European Guarantee Fund, which started operations in December 2020, has reached €16 billion in approved financing at the end of June. This represents over 65% of the available € 24.4 billion in EU Member States' guarantees to support financing to European businesses struggling after the economic downturn. Total signatures with beneficiaries of financing under the EGF stood at €8.4 billion, mostly benefitting SMEs. The pan-European guarantee fund, part of the €540 billion EU recovery package approved in 2020, is expected to mobilise up to €200 billion for EU businesses and the wider economy.
EIB Vice-President Ambroise Fayolle, who has taken over as Chairman of the EGF Contributors' Committee, stated: "The EGF is there to support EU companies and provide the...
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