The CDP guarantee with EGF programme resources
CDP has implemented a new guarantee operation in favour of the Guarantee Fund for SMEs (SME Fund) with a view to facilitating access to credit for businesses eligible for the European Guarantee Fund Programme (EGF).
This operation consists of an 80% counter-guarantee issued by CDP on a portfolio of new transactions from the SME Fund for Italian small and medium-sized enterprises, for a value of up to 4.5 million euros, subject to a predetermined cap on losses. In turn, CDP benefits from a 70% guarantee from the European Investment Fund (EIF) under the EGF Programme.
Loans that meet the eligibility requirements for the initiative, which include having a duration of between 3 months and 10 years, and which are guaranteed by the SME Fund for a maximum amount of 3.214 million euros, are included by the SME Fund manager in the portfolio covered by the CDP guarantee.
For more information on the key features of the initiative and on the eligibility requirements for financing, please see the dedicated pages on the EIF and SME Fund websites.
This operation has been made possible by the guarantee issued by the European Guarantee Fund. The purpose of the EGF is to support companies affected by the Covid-19 pandemic, through the provision of guarantees to banks and National promotional banks and institutions (NPBIs).