Pan-European Guarantee Fund (EGF) Scheme

Enhanced Access to Finance at beneficial Interest Rates

For SMEs and small mid-caps

Covers a wide range of needs

With the support of EIF


The EGF was established in response to the economic impact of the COVID-19 pandemic outbreak to support eligible borrowers by providing enhanced access to finance at beneficial interest rates.

The transactions with eligible borrowers benefit from support by the EGF Guarantee Instrument, implemented by the European Investment Fund (EIF) with the financial backing of the Member States contributing to the EGF.

The EGF financing constitutes aid granted under the Commission Decision numbered C (2020) 9237 and dated 14 December 2020.


EGF scheme validity date

The loans can be included in the EGF scheme provided the respective loan agreement is signed until 31/12/2022 which is the validity end date of the scheme.


Eligible Borrowers: should be viable in the long term and able to meet the Bank’s requirements for commercial lending.

The EGF scheme is addressed to the self employed, micro, small and medium-sized enterprises (within the meaning of the commission recommendation 2003/361/EC of 6th May 2003) and small mid-caps, which should satisfy among others, all the below eligibility criteria that apply on a group / entity basis:


were not an "undertaking in difficulty“ (within the meaning of Commission Regulation (EU) No 651/2014 of 17th June 2014) before 31 December 2019

were an “undertaking in difficulty” on 31 December 2019, but are not subject to collective insolvency procedure or have not received any rescue or restructuring aid

are not sanctioned and are not in breach of Restrictive Measures

are be established and operating in an EU Participating Member State

are not incorporated or established in a Non-Compliant Jurisdiction

are not delinquent (for more than 20 days) or in default in respect of any transaction

do not operate in economy sectors that are specifically excluded by the European Investment Bank Group. Restrictions as to the financing of specific assets also apply

are not engaged in any illegal activities and are not in an exclusion situation

have not benefitted of state aid which has been declared illegal or noncompliant by the Commission of EU which has not yet been returned

must be rated with the bank’s internal rating models.


Exclusion of loans from EGF

Loans reported to the EIF as loans supported by the EGF, may be subsequently excluded by the EIF after relevant notice to the Bank and/or by the Bank itself, due to non compliance with the scheme’s terms, such as non-eligibility with the scheme’s criteria.  Loans that are excluded will no longer benefit from the beneficial interest rate, subject to the relevant clauses in the loan agreement to be singed between the borrower and the Bank.