The Engineers and Public Works Contractors Fund (EPWCF) is now a full member of the European Association of Guarantee Institutions (AECM) after its successful evaluation and the signing of the cooperation protocol between the President of the EPWCF, Konstantinos Makedos and AECM Secretary General, Katrin Sturm, at the Agency's offices in Brussels.
EPWCF had submitted its candidacy to AECM on 14 May 2018 with its main objective the stimulation of small and medium-sized entrepreneurship. Following the positive recommendation of the Board of Directors, the members of the Organization unanimously accepted the membership of the Engineers and Public Works Contractors Fund (EPWCF) in its ranks, as it was confirmed that EPWCF fulfills all the necessary conditions for joining.
AECM is a powerful and acclaimed agency, consisting of 48 members from 28 different countries. It has provided guarantees to more than 2.8 million small and medium-sized businesses since its founding in 1992. In 2017, the agency's guarantee portfolio amounted to €125 billion, in a total of €3.1 million letters of guarantee.
As a member, EPWCF has the ability to exchange best practices at international level, continuous access to information about industry developments, as well as reports, studies and statistics. It also receives assistance in all matters relating to financing and financial institutions, Structural Funds, state aids and further digitization.
Additionally, EPWCF has now direct international institutional representation at the levels of European Commission, European Parliament, European Council, European Investment Bank, European Investment Fund (EIF), Organization for Economic Co-operation and Development (OECD) and the World Bank.
The president of EPWCF, Konstantinos Makedos, said: " EPWCF is now officially a full member of the AECM pan-European agency. This is undoubtedly an important development, as our successful assessment and participation in an organization of this magnitude shields our credibility and multiplies our development potential.
It enables possibilities that can create opportunities for small and medium-sized entrepreneurship, Greek scientists and the entire technical sector in the country. We commit ourselves to exploiting these prospects in order to improve and strengthen our industry know-how and dynamism with the ultimate goal of restarting the economy, halting brain drain, and effectively supporting young scientists. "
AECM President, Mr. Bernhard Sagmeister, welcomed the inclusion of EPWCF stating:
"With great joy and honor, I welcome EPWCF as a new full member of AECM. I am sure that it will be a brilliant addition to our Union's ongoing actions, contributing successfully to the exchange of experience and the enhancement of know-how.
Engineers and Public Works Contractors Fund is widely recognized in Greece as a leading organization that supports the development of activities for more than 30,000 engineers, scientists and SMEs in Greece. With the President, Mr. Konstantinos Makedos and the profound knowledge of his team, we will jointly launch new activities for the benefit of SMEs and our societies in general. We are looking forward to working with EPWCF»
European Association of Guarantee Institutions - AECM
The international non-profit organization "European Association of Guarantee Institutions" (AECM), was founded in 1992 in Brussels and has 48 members, active in 28 EU countries, as well as Bosnia and Herzegovina, Serbia, Russia and the Turkey. Its members are private guarantee institutions, as well as public institutions, which are either guarantee funds or Development Banks with a guarantee section. The common aim of the members is to provide SME loan guarantees, which present a sound financial plan but can not provide sufficient bank guarantees.