JEREMIE (Joint European Resources for Micro to Medium Enterprises) is a joint initiative launched by the European Commission (DG Regional Policy) and the European Investment Fund to improve access to finance for SMEs in the EU within the Structural Funds framework for the period 2007-2013.
JEREMIE enables the EU Member States and Regions to allocate money from the structural funds and also national resources into holding funds that can finance SMEs in a flexible and innovative way. The initiative aims at developing and fostering the role of entrepreneurship within the EU in order to help structural funds to deliver greater benefits to the market.
In Slovakia, the JEREMIE Holding Fund is financed with EUR 100m from the EU Structural Funds under three 2007-2013 Operational Programmes (Operational Programme Competitiveness and Economic Growth, Operational Programme Research and Development, Operational Programme Bratislava Region) and is managed by EIF through Slovenský záručný a rozvojový fond, s.r.o.
The agreed investment strategy includes the allocation of EUR 49.7m towards a guarantee instrument in support of SME landing (FLPG), EUR 31m towards risk capital instruments (VC), and at least an initial EUR 13.3m towards a funded risk-sharing product (PRSL) for banks that facilitates cheaper pricing for small companies seeking loans to maintain or grow their business.
More information about JEREMIE can be found at www.eif.org/what_we_do/jeremie/index.htm or download the JEREMIE leaflet here.