EIF and the Danish Growth Fund (Vækstfonden) sign an agreement to finance agricultural business

The European Investment Fund (EIF) and The Danish Growth Fund (Vækstfonden) have signed a COSME agreement in Denmark, guaranteed by the European Fund for Strategic Investments (EFSI), the heart of the Investment Plan for Europe. 

The COSME-EFSI guarantee agreement will allow Vækstfonden to support DKK 180,000,000 (ca. EUR 24.2m)of loansto agricultural Small and Medium-sized Enterprises (SMEs) in Denmark over the next three years. The agreement will make it possible for Vækstfonden to support additional financing at favourable conditions to around 75 young farmers wishing to acquire a farm. European Commissioner for Agriculture, Phil Hogan, said: "Agriculture is the heartbeat of rural areas. To ensure the continued viability of rural Europe, we need to invest in our farmers. Thanks to the Investment Plan for Europe, small agri businesses across Denmark will now be able to grow and expand. This is a concrete example of the EU delivering for citizens in rural areas and I hope to see more such EFSI agreements in the near future."