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    Reference: 20150151
    Release date: 26 September 2018

    Promoter – Financial Intermediary

    GLIF LTD

    Location

    Description

    Greater London Investment Fund (GLIF) Limited is a 'fund of funds' initiative of the Greater London Authority and SME Wholesale Finance (London) Limited to promote SMEs access to finance. GLIF Limited mobilises European Structural Investment Funds (ESIF), as well as national grants, in addition to an EIB loan of GBP 50m provided under the terms of the UK SME Financial Instruments Programme approved by the EIB in 2015. GLIF Limited will be managed by SME Wholesale Finance (London) Limited, an experienced 'fund of funds' manager that is a wholly owned subsidiary of the Greater London Authority.

    Objectives

    GLIF's objective is to increase the capacity and capability of SMEs and promote entrepreneurship in the Greater London Area, to support key sectors that enhance competitiveness, such as the emerging circular economy, where financial instruments will support the development and growth of new technologies and business models. It is expected that over 200 SMEs will benefit from loan and equity investments.

    Sector(s)

    Proposed EIB finance (Approximate amount)

    GBP 50 million (EUR 57 million)

    Total cost (Approximate amount)

    Not applicable.

    Environmental aspects

    Final beneficiaries will be requested to comply with applicable national and EU legislation, as appropriate.

    Procurement

    Final beneficiaries will be requested to comply with applicable national and EU legislation, as appropriate.

    Status

    Signed - 31/01/2019

    Disclaimer

    Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The data provided on this page is therefore indicative and cannot be considered to represent official EIB policy (see also the Explanatory notes).

    Related tags

    United Kingdom Credit lines