Support for the knowledge economy
In 2011, the EIB lent some EUR 10bn for investment in the knowledge economy. That means for investment in education, research & development and innovation. These three are critical for Europe's competitiveness and long-term economic growth. But in addition, now that the European Union has been hit by an economic crisis and unemployment has increased rapidly, investment in the knowledge economy is also important for fighting poverty, social exclusion and inequality.
Knowledge economy objectives
Education, research & development and innovation together are known as the three sides of the "knowledge triangle" because education and R&D together make innovation possible.
The European Investment Fund (EIF) supports innovative small and medium-sized enterprises and entrepreneurship notably through venture capital activities.
Financing Facilities
To stimulate investment in the knowledge economy, the EIB Group can offer:
- senior loans
- loans or guarantees for investment with a higher risk, higher reward profile through the Risk Sharing Finance Facility (RSFF);
- EIF equity participations and counter-guarantees that stimulate the creation and development of innovative SMEs by providing equity in the form of venture capital and facilitating access to bank credit.
