JEREMIE - Regional funding

JEREMIE’s resources are derived from EU Structural Funds for the funding period 2007-2013, the monies issued by the European Commission to EU Member States and their Regions for development. National and regional public authorities of the EU Member States responsible for the EU Structural Funds allocation may opt to participate in a JEREMIE framework for financial actions.

A sustainable tool to support SME finance
Traditionally, monies from EU Structural Funds have been spent as grants, which are issued as one-off payments on a project basis. The JEREMIE initiative offers new opportunities for Member States and Regions to invest and re-invest Structural Funds using a range of financial instruments, instead of grants. Investment and re-investment opportunities through JEREMIE mean that funds are used to maximum advantage, gaining additional value, or leverage, and also that funds can be used over a longer period for the benefit of SMEs. 

JEREMIE's financial instruments draw on the EIB Group’s expertise in SME finance, notably guarantees, venture capital, securitisation and loans. JEREMIE financial products will operate on market terms to encourage the participation of private as well as public financial institutions, which is of key importance.

A flexible set of financial tools
JEREMIE provides for a range of debt and equity financial tools to obtain the most appropriate allocation of funds according to national, regional or local requirements.The intiative allows for prudent initial funding contributions by national and regional authorities with opportunity to increase funding allocation at a later date. Changing financial tools during the cycle of implementation is also foreseen, allowing responsiveness to operating conditions at national, regional or local level, such as market-led events. JEREMIE therefore provides Member States and Regions with a tailor-made set of financial tools, formulated to be optimally applied in each setting.        

Focussing action at local level
The JEREMIE initiative enables Member States and regional authorities to apply EIB Group’s SME finance know-how at national, regional and local level to focus actions which improve financial conditions for small businesses.