• United Kingdom
Where the impacts of the investment may be experienced.
Financial Institutions
  • European Investment Bank (EIB)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Bank Risk Rating
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Mar 30, 2017
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
British Business Bank
The holder of the loan, grant, or other investment.
  • Finance
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 151.77 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Currency conversion note:
Bank reported EUR 142 million
Converted using 2017-03-30 exchange rate.
Loan Amount (USD)
$ 151.77 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Currency conversion note:
Bank reported 142 million
Converted using 2017-03-30 exchange rate.
Primary Source

Original disclosure @ EIB website

Updated in EWS Feb 16, 2018

Disclosed by Bank Jan 30, 2017

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Project Description

According to EIB website, the Midlands Engine Investment Fund is a collaboration between the British Business Bank and ten local enterprise partnerships in the East & Southeast and West Midlands. It consists of a GBP 288m fund-of-funds that aims to support a wide range of firms at different points in their development: from early-stage businesses seeking seed equity or small business loans, to small and medium-sized enterprises (SMEs) wanting loans or equity funding to take advantage of growth opportunities. Under the terms of the UK SME Financial Instruments Programme approved by the EIB in 2015, the EIB would contribute GBP 122.5m to the fund, which also mobilises European Structural Investment Funds (ESIF), as well as other national grants and loans. The Midlands Engine Investment Fund will be managed by British Business Financial Services Ltd (BBFSL), an entity fully owned and controlled by the British Business Bank (BBB), a government-owned financial institution set up to support economic growth by making finance markets work better for smaller businesses in the UK.

This project will provide over GBP 250m of lending and investment to smaller businesses and thereby support the growth ambitions of 460,000 smaller businesses in the Midlands. The fund will also attract additional private sector funding and contribute to creating a sustainable ecosystem of high-growth companies alongside the support network of funders and advisors that they need. 

Futher, for this project, it will be requested to comply with applicable national and EU legislation on environmental and social standpoint, as appropriate.

Investment Description

Contact Information

No contact information provided at the time of disclosure. 


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