1 June 2017

The European Investment Bank (EIB) and the European Commission (EC) have pledged their stronger commitment to the Circular Economy and Bioeconomy sectors in Europe through a set of actions aimed at facilitating access to finance. The announcement was made today on the occasion of the "Innovative Enterprise Week, Access to Finance for Research, Innovation and SMEs" conference taking place in Valletta and hosted by the Maltese Presidency of the Council of the European Union.

During the conference an InnovFin Advisory (IFA) study on access-to-finance conditions for investments in Bio-Based Industries and the Blue Economy was published, opening up ways to support EU climate goals and address other important societal challenges. The study brings together information from projects in these sectors within the European Union and evaluates the need and potential for dedicated financial instruments as well as for other policy actions at the EU and Member State levels that can catalyse private sector investments.

Moreover, the EC and the EIB signed an amendment to the InnovFin Advisory Technical Assistance agreement, setting up the conditions for improved access to finance for the Circular and Bioeconomy sectors. The EIB and the EC are expected to announce further steps towards offering fully integrated access-to-finance solutions for innovators in the Bioeconomy and Circular Economy sectors in the weeks to come.  

Source: The European Investment Bank (EIB)

Illustration Photo: Solar waste recycling industry starts up. Clean-tech firms seek to reuse a variety of rare, potentially toxic materials. New businesses emerge as manufacturers prepare for modules’ end of life. (credits: Bšhme Frauenstein / Detlev MŸller / Spot Us / Flickr Attribution-ShareAlike 2.0 Generic (CC BY-SA 2.0))

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