The European Investment Bank (EIB) and the European Investment Fund (EIF) – jointly the EIB Group – today signed the first guarantee agreements with ProCredit Holding and its subsidiaries in order to support EUR 100 million of lending to small and medium-sized enterprises (SMEs) in Georgia, Moldova and Ukraine under the EU4Business initiative. These agreements will enable the ProCredit banks in these countries to facilitate access to finance for local SMEs by providing a 70% guarantee on each loan and...

Following on from the announcements made in President Juncker's 2017 State of the Union Address, the European Commission is today presenting its plans for completing the work on President Juncker's ten political priorities before the end of its mandate, as well as a series of forward-looking initiatives for the future of Europe. President Jean-Claude Juncker said: “Europe is regaining its strength, and we must take advantage of this renewed momentum. We have already put on the table 80% of the proposals we promised when...

By Cecilia Malmström A couple of weeks ago a new EU-Canada trade agreement, known as CETA, came into force. If you're involved in a business that already exports to Canada, or is considering doing so, it's time to crack open the champagne. Why? Well, if you export goods, CETA is the tariff beater – you no longer have to pay Canadian customs duties on 98% of all products from day one, saving your company money and allowing you to compete more...

Beyond Nominal Convergence The current criteria for adopting the euro refer to nominal variables relating to the macroeconomic environment – the inflation rate, the long-term interest rate and the exchange rate – and to the budget deficit and debt ratios. However, these criteria do not necessarily reflect developments in the real economy, which can also pose challenges on the road to adopting the euro. The European debt crisis, multiple euro area accession experiences, academic analyses, as well as evidence from the...

The European Investment Bank has agreed to provide EUR 100 million to finance construction of the new Amphia Hospital in Breda. Amphia is one of the most advanced clinical hospitals in the Netherlands and the new hospital will strengthen healthcare for the North Brabant province. This is the first Dutch hospital to be financed by the EIB under the Investment Plan for Europe. During the formal ceremony in Breda finance agreements were also signed with BNG, Rabobank and ING. Supporting transformational...

GREENVILLE, South Carolina - The European American Chamber of Commerce Carolinas (EACC-Carolinas) will be hosting a cocktail reception to welcome a delegation of EU Trade Counselors in Greenville. Economic Development and Trade Officials from 20 countries in Europe are planning to attend as part of a trade mission to South Carolina planned by the Presidency of the Council of the European Union.  The private event expects 100 business executives between EACC-Carolinas members and selected guests and it is scheduled for November 1st from 6:00 to 7:30pm at...

Today the European Commission publishes its first annual report on the functioning of the EU- U.S. Privacy Shield, the aim of which is to protect the personal data of anyone in the EU transferred to companies in the U.S. for commercial purposes. Andrus Ansip, Commission Vice-President for the Digital Single Market, said: "The Commission stands strongly behind the Privacy Shield arrangement with the U.S. Making international data transfers sound, safe and secure benefits certified companies and European consumers and businesses, including EU...