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Investment Plan for Europe: EU and #Greece government launch €260 million equity Fund-of-Funds

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CashToday (22 December) the European Commission and the European Investment Bank (EIB) are launching a new Fund-of-Funds to boost the competitiveness of Greek SMEs and start-ups.

The fund is worth €260 million, with €200m from the European Regional Development Fund and €60m from European Investment Fund resources, including up to €10m under the European Fund for Strategic Investments (EFSI), the heart of the Investment Plan for Europe.

By attracting private capitals, the fund will help Greek small businesses turn their ideas into concrete projects with high value added, for the direct benefit of the real economy. Regional Policy Commissioner Corina Crețu is in Athens, where she is meeting Prime Minister Alexis Tsipras and attending the fund's launch event.

"This fund is an example of a successful combination of Cohesion Policy funds with the EFSI. It will give a boost to innovative businesses in the country and help them access new markets. This shows Greece's commitment to having an ambitious growth and investment strategy and I am proud that Cohesion Policy funds can be a part of it," the commissioner said. A full press release is available on the EIF's website.

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