Keeping the wheels rolling in times of crisis: COVID-19 support measures
Transoliveira, a road transport company enjoying a steadily growth, was hardly hit by the pandemic in early 2020. As many other European small businesses who faced unexpected shortfalls in finances, Transoliveira had access to an EIF guaranteed loan made possible by the EU COVID-19 support measures swiftly put in place.
In the upcoming years, the EU and the EIF will keep supporting small business in Europe overcoming the COVID-19 crisis with targeted resources.
Got skills? Level up! Skills&Education Guarantee Pilot
Portugal’s workforce still shows a significant proportion of low qualified workers. Yet local business demand for ICT specialists continues to exceed supply.
Fundação José Neves aims to change this and is now able to offer Income Sharing Agreements (ISA) as a result of a guarantee provided by the EIF under the EFSI Skills & Education pilot. Students and adult learners can benefit from this scheme by deferring their tuition fees to when they start having a source of income.
This is the first time EIF is working with a non-profit organisation as an intermediary.
The ocean ahead: Portugal Blue
In 2020 the EIF and BPF launched the Portugal Blue, a €50m equity partnership to support Portuguese companies active in the area of blue economy through sustainable and climate impact funds. Portugal Blue is the third equity partnership – following Portugal Tech and Portugal Growth – between the EIF and BPF under the EIF-NPI Equity Platform.