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InvestEU Fund Provides New Opportunities for Cooperative Businesses to Access Finance

The InvestEU Programme is a European investment support fund, which is expected to trigger more than €650 billion of investment across the EU over the course of 2021-2027.

ICOS Vice President, James O’Donnell and EU Affairs Executive, Alison Graham met with MEP Seán Kelly, the lead negotiator on the file for the European Parliament’s Industry Committee, to discuss the opportunities for Irish co-operatives to access finance to fund research, innovation and new infrastructure. Kelly outlined the specific measures which will be included in the fund to ensure SME assess to the fund as well as the “sustainable financing” requirements which will benefit new bio-economy and sustainability initiatives by co-operatives.

InvestEU will operate through the establishment of an EU loan guarantee, which will take some risk away from banks and encourage them to lend.

Alison Graham

European Affairs Executive