Cooperation between European promotional banks
Already after the fall of the Berlin Wall, the approach of the German promotional bank KfW became a role model for similar institutions in Southern and Eastern Europe. In Hungary, Croatia and the Baltic States for example KfW advised the respective governments on setting up a promotional bank or developing SME programmes. KfW still today is cooperating with European funding institutions to promote growth in Europe.
New initiative supports European Securitisation Market
In July 2016 the European Investment Fund (EIF) and several National Promotional Institutions (NPIs) have launched the "EIF-NPI Securitisation Initiative" (ENSI) aiming at providing more funding to small and medium-sized enterprises (SMEs) via the capital markets.
The objective of this cooperation is joint participation in SME securitisation transactions in order to stimulate the availability of finance to SMEs in Europe by revitalizing the SME securitisation market and to catalyse resources from the private sector in the spirit of the European Fund for Strategic Investments in order to achieve a much wider outreach in support of SMEs. The working group defines standard procedures and minimum criteria under which the respective promotional institutions are generally willing to participate in securitisation transactions and beyond that, it also discusses with the European Commission the option to deploy funds out of the European Fund for Strategic Investments for this purpose.
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