European Commission and EIB launch new instrument to finance research and innovation
Brussels, 6 June 2007 - Yesterday the European Commission & the European Investment Bank (EIB) signed a cooperation agreement establishing the new risk-sharing finance facility (RSFF) to support research & innovation in Europe. This new instrument will help to make more financing available for promoters of research & innovation projects, which often face more difficulties than traditional business sectors in accessing finance, due to the relatively high levels of uncertainty & risk inherent to their activity. The RSFF, part of the EU's 7th Research Framework Programme (FP7) & EIB’s programme for Research & Innovation, will partially cover the financial risks assumed by the EIB when financing this type of activity. The contribution of €1 billion each from FP7 & the EIB will therefore unlock billions of additional financing in this area.
Contact information |
EIB: Sabine Parisse ; Commission: Antonia Mochan
(email: s.parisse@eib.org ; antonia.mochan@ec.europa.eu) Phone: +352/4379.3340, gsm:+352/621.459.159 ; +32/2.296.9921, +32/498 969921 |
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News type | Inbrief |
File link |
http://europa.eu/rapid/pressReleasesAction.do?reference=BEI/07/50&format=HTML&aged=0&language=EN&guiLanguage=en |
Source of information | EIB (European Investiment Bank) |
Keyword(s) | EU-INCO-MED, FP7, research |
Subject(s) | FINANCE-ECONOMY |
Relation | http://www.emwis.org/initiatives/incomed/fol916986/doc241799 |
Geographical coverage | EU |
News date | 11/06/2007 |
Working language(s) | ENGLISH , FRENCH |