Guarantee products – calls for expression of interest

As an implementing partner of InvestEU, our portfolio guarantee products support investments for EU’s policy priorities over the period 2022-2027. The EIF, in its role of a guarantor, provides credit risk protection through portfolio (counter-) guarantees to selected financial intermediaries.

These are provided in the form of a capped or uncapped guarantee, and shall partly cover the credit risk of eligible debt financing transactions granted to predefined categories of final recipients and included for coverage in the portfolio(s).

Public or private entities, including but not limited to:

• For guarantees: credit or financial institutions, alternative lenders, leasing companies ;
• For counter-guarantees: (counter-) guarantee schemes, (counter-) guarantee institutions or other entities, credit or financial institutions

that are established or operating in EU Member States, Overseas Countries and Territories (OCTs) or Other Participating Countries as further specified in the Call documents below.

An applicant may become a financial intermediary under InvestEU provided that:

• it complies with formal criteria as described in the Call for Expression of Interest;
• it completes and submits its application, as per the Annex I below within the deadline and in accordance with all provisions outlined in the Call;
• it is selected by the EIF as a potential financial intermediary under InvestEU to implement one or more InvestEU Portfolio Guarantee Products pursuant to the selection process outlined in the Call; and
• it enters into the relevant (counter-) guarantee agreement with EIF.

Documents for all guarantee products

Call for expression of interest
Appendix 1 to Call for expression of Interest – Glossary of Terms
Annex I – Expression of Interest for Financial Intermediaries

Horizontal term sheets - the following annexes are applicable to all InvestEU portfolio guarantee products

Annex II – Direct guarantee term sheet
Annex III – Counter-guarantee term sheet

Thematic term sheets - the following annexes contain specific terms and conditions applicable to the respective InvestEU portfolio guarantee product:

Annex IV(a) – SME Competitiveness guarantee term sheet
Annex IV(b) – Sustainability guarantee term sheet
Annex IV(c) – Innovation and Digitalisation guarantee term sheet
Annex IV(d) – Cultural and Creative guarantee term sheet
Annex IV(e) – Microfinance and Social Entrepreneurship guarantee term sheet
Annex IV(f) – Skills and Education guarantee term sheet

Other documents:

Annex V – Terms of Confidentiality
Reporting template for direct guarantee
Reporting template for counter-guarantee
Frequently Asked Questions (FAQ)

Information notes on InvestEU Member State compartment allocations are available here – including Romania (published on 7 July 2022), Greece (published on 22 November 2022), Finland (published on 30 January 2023) and Bulgaria (published on 7 February 2023).