Small and medium-sized enterprises (SMEs) in Europe will soon have access to up to EUR25 billion of additional finance, as a result of an agreement signed on Tuesday between the European Commission and the European Investment Fund (EIF). The agreement paves the way for providing equity and debt financing for SMEs under the EU Competitiveness of Enterprises and SMEs (COSME) program by the end of 2014. Due to the EUR1.3 billion allocated in the COSME budget for SME financing, it will be possible to mobilize up to EUR25 billion via leverage effects from financial intermediaries over the next seven years.