SMEs at the Heart of SNCI’s Financing Priorities
SMEs are at the heart of SNCI’s activities.
In 2024, the four programs proStart, proDevelop, proInnovate, and proTransfer, designed to support businesses at every stage of their development, notably supported growth, innovation, and business transfer projects.
More than 95% of this financing benefited small and medium-sized enterprises.
Targeted Support for the Construction Sector
In response to the crisis in the construction sector, SNCI launched a Special Anti-Crisis Financing program in September 2023, which has been extended until December 2025. Eight companies in the sector have already benefited from this support. Furthermore, SNCI, along with Luxembourg banking partners, acquired a 17.65% stake in Prolog Luxembourg S.A. as part of a comprehensive €250 million initiative to stabilize the sector.
Strategic and Innovation-Focused Investments
2024 saw the continued rollout of the Luxembourg Future Fund 2 (LFF 2), endowed with €200 million, of which €160 million was committed by the SNCI. Managed by the European Investment Fund (EIF), LFF 2 expands the scope of its predecessor by supporting more mature industrial and service companies seeking to grow through innovation (in the broadest sense, including more traditional businesses) and debt and/or equity funds supporting the development of SMEs.
LFF 1, although closed to investment since 2022, continued its follow-on investments, reaching a total of €140 million. Its portfolio comprised 12 investments as of March 31, 2024.
In parallel, SNCI continues its investments in the Orbital Ventures S.C.A. SICAV-RAIF (space) and Digital Tech Fund (ICT) funds, supporting startups active in sectors such as space, cybersecurity, big data, fintech, healthtech, and the Internet of Things.
Launch of a strategic planning process for the coming years
The newly authorized Management team, under the responsibility of the Bank’s Board of Directors and supported by independent advisors, launched a strategic planning process in May 2024. This process will culminate in the implementation of an action plan that will incorporate the contributions and perspectives of the Bank’s internal and external stakeholders. Work will continue throughout 2025, with the first actions to be implemented during the first half of the year.
In line with its commitment to expanding its reach, SNCI significantly increased its workforce by recruiting 10 people in 2024. The team will continue to be strengthened in 2025.
See SNCI’s 2024 Annual Report: Balance Sheets and Reports – SNCI | National Credit and Investment Company
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About SNCI
Société Nationale de Crédit et d’Investissement (SNCI) is a public banking institution specializing in providing financing to commercial companies based in Luxembourg, with a particular focus on SMEs. It co-finances companies at every stage of their development, thereby contributing to Luxembourg’s sustainable economic diversification. SNCI intervenes directly or indirectly through loans intended to partially cover the financing of projects related to business creation, expansion, transfer, or innovation. SNCI also acquires and manages shares in companies and investment funds that are strategically important for the development and diversification of the Luxembourg economy. www.snci.lu
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