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Access to risk finance

Debt facility

Funding on the basis of the debt facility is aimed at the demand-oriented and bottom-up granting of credits and guarantees, especially supporting SMEs and medium sized enterprises. This component continues the successful "Risk-sharing finance facility" (RSFF) and stabilizes the FP7 pilot action "Risk-sharing instrument for innovative research-oriented SMEs and small midcaps" (RSI).

Equity facility

This instrument shall secure the provision of venture capital and quasi-venture capital for innovative enterprises through all stages of development. Funding is also mostly designed in a bottom-up approach, but there might also be resources, which will be allocated for the support of explicit political objectives (e.g. eco-innovation).

The implementation of this part of the programme is followed by the European Investment Bank (EIB) as well as the European Investment Fund (EIF). There is also interlocking with the financial instruments of the "Programme for the Competitiveness of Enterprises and SMEs" (COSME). The Member States also have the possibility to stock up the budget with their own means and are encouraged to use the structural funds for that.