Significant and scalable additional guarantee EIB Group will rapidly mobilise up to EUR 40 billion to fight crisis caused by Covid-19 and calls on Member States to set up a further guarantee for SME and Midcap support from EIB Group and national promotional banks. The proposed financing package consists of: · Dedicated guarantee schemes to banks based on existing programmes for immediate deployment, mobilising up to EUR 20 billion of financing; · Dedicated liquidity lines to banks to ensure additional working capital support for SMEs and mid-caps of EUR 10 billion; · Dedicated asset-backed securities (ABS) purchasing programmes to allow banks to transfer risk on portfolios of SME loans, mobilising another EUR 10 billion of support.