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€25 million of loans for cultural and creative #SMEs in #Belgium

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The European Investment Fund (EIF) has signed guarantee agreements with PMV and ST’ART SA, two finance providers in Belgium, supported by the new Cultural and Creative Sectors Guarantee Facility under the EU's Creative Europe programme.

In total, more than 140 SMEs in the cultural and creative sectors are expected to obtain access to finance as a result of this new Guarantee Facility. This agreement was made possible with the support of the European Fund for Strategic Investments (EFSI), the central pillar of the Investment Plan for Europe, the Juncker Plan.

Education, Culture, Youth and Sport Commissioner Tibor Navracsics and Digital Economy and Society Commissioner Mariya Gabriel said: "Culture and the creative sectors build bridges between art, business and technology. They are a catalyst for innovation and foster risk-taking attitudes, which are key in building resilience. Helping these companies scale up and stimulate creativity is high on the European Commission's agenda. Thanks to these two agreements under the Creative Europe programme, we will enable Belgium's creative industries to contribute even more to job creation and economic growth."

You can find the press release here.

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