Wallimage Entreprises has been selected by the European Investment Fund (EIF) for a partnership, signed on November 9th in Liege. It sets up a new financial guarantee mechanism in the Walloon Region, as part of the EIF’s support for companies in the cultural and creative sectors (Cultural and Creative Sectors Guarantee Facility).
This mechanism, resulting from the Creative Europe program of the European Union, will allow Wallimage Entreprises not only to continue but also to boost its support to Walloon companies active in the audiovisual and gaming sectors, via its classic actions but also through new products adapted to the specific needs of these two sectors.
Access to this mechanism until April 2024, will allow Wallimage Entreprises to support these sectors even more actively since it will benefit, under certain conditions, from an EIF guarantor, which is aimed at small and medium-sized enterprises for loans of up to two million euros.
The European Investment Fund (EIF) is part of the European Investment Bank Group. Its core mission is to support European micro, small and medium-sized enterprises by helping them access finance. This fund designs and develops instruments that target these companies: capital, growth capital, guarantees and microfinance instruments. It promotes the objectives of the European Union in terms of innovation, research and development, entrepreneurship, growth and employment.
Creative Europe is a 7-year program (2014-2020) with a budget of 1.46 billion Euros. Its objective is to promote cultural diversity, encourage the circulation of European culture and creativity, and strengthen the competitiveness of the cultural and creative sectors.
It is undeniable that this great partnership will allow Wallimage Entreprises to reinforce its proactive attitude to support the growth of its preferred sectors. This is great news in the current complicated and internationally competitive economic environment.