SME’s at the heart of SNCI’s financing priorities
SME’s are at the heart of the SNCI’s activities.
In 2024, the four proStart, proDevelop, proInnovate and proTransfer programs, designed to support companies at every stage of their development, provided funding for growth, innovation and transfer projects.
Over 95% of this financing went to small and medium-sized businesses.
Targeted support for the construction sector
In response to the crisis in the construction sector, SNCI launched a Special Anti-Crisis Financing scheme in September 2023, extended until December 2025. Eight companies in the sector have already benefited from this support. In addition, alongside Luxembourg banking partners, the SNCI joined the capital of Prolog Luxembourg S.A., with a 17.65% stake, as part of a global 250 million euro initiative to stabilize the sector.
Strategic, innovation-driven investments
2024 saw the continued deployment of the Luxembourg Future Fund 2 (LFF 2), endowed with 200 million euros, including 160 million committed by the SNCI. Managed by the European Investment Fund (EIF), LFF 2 broadens 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, has continued its follow-up investments to reach a total of 140 million euros. At March 31, 2024, its portfolio comprised 12 investments.
At the same time, SNCI is continuing its commitments to the Orbital Ventures S.C.A. SICAV-RAIF (space) and Digital Tech Fund (ICT) funds, supporting start-ups active in sectors such as space, cybersecurity, big data, fintech, healthtech and the Internet of Things.
Launch of a strategic reflection process for the years ahead
The new Management Committee, under the responsibility of the Bank’s Board of Directors and supported by independent advisors, launched a strategic review process in May 2024. This process will culminate in the implementation of an action plan that will encompass the contributions and views of the Bank’s internal and external stakeholders. Work will continue throughout 2025, with the first actions to be implemented in the first half of the year.
As part of its drive to extend its reach, SNCI has significantly increased its workforce, recruiting 10 people in 2024. The team will continue to be strengthened in 2025.
Consult the SNCI 2024 annual report: Bilans et rapports – SNCI | Société Nationale de Crédit et d’Investissement
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About SNCI
Société Nationale de Crédit et d’Investissement (SNCI) is a public banking institution specialized in providing financing to Luxembourg-based commercial enterprises, 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 start-up, expansion, transfer or innovation projects. The SNCI also acquires and manages shares in companies and investment funds of strategic importance to the development and diversification of the Luxembourg economy. www.snci.lu
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