Extracted Insight: The European Investment Bank (EIB) is launching an 18‑month pilot programme to explore how external credit ratings can improve financing access for innovative European startups and scale‑ups, particularly those backed by EIB venture‑debt instruments. The pilot is conducted in partnership with Spanish credit‑rating agency INBONIS, which specialises in SME ratings, and operates under the InvestEU Advisory Hub mandate managed jointly by the European Commission and the EIB. INBONIS will provide independent, private credit assessments for companies selected by the EIB across multiple sectors, including firms benefiting from the CleanTechEU guarantee mechanism. The programme will test whether ratings from an External Credit Assessment Institution (ECAI) registered with ESMA and recognised by the European Banking Authority (EBA) can help intermediary banks improve risk‑assessment, enhance comparability among firms, and accelerate the provision of working‑capital lines and bank financing to fast‑growing innovative companies. The initiative addresses a structural financing gap where many European startups, despite technological and commercial maturity, lack an established credit history and therefore struggle to obtain traditional bank loans.
