3.5 C
Bucharest
December 7, 2021
ECONOMY FINANCE&BANKING

EUR 100 M for SMEs, from EC. The funds are included in the “Initiative for SMEs” Operational Programme 2014-2020

The European Commission adopted, on March 29, the “Initiative for SMEs” Operational Programme 2014-2020, worth EUR 100 M, for Romanian SMEs. The value of the funds offered from the European Regional Development Fund, in the form of guarantees, is expected to rise fourfold – up to EUR 400 M or more – because of the lever effect of private investments in loans for SMEs.

Romania’s programme is the fourth of its kind for 2014-2020, and the purpose of the “Initiative for SMEs” is to encourage member states to use the joint initiative devised by the Commission and the European Investment Bank (EIB) in order to stimulate access to financing for small European companies that face financial constraints.

European Regional Policy Commissioner Corina Cretu stated: “Today (yesterday – editor’s note), Romania joined the group of member states that want to improve the business environment for SMEs, by allocating EUR 100 M from the EU Regional Development Fund, in order to contribute to the financing of SMEs. In a country where SMEs represent more than 99 percent of the total number of companies, and they are facing serious need for external financing, this programme supports entrepreneurs precisely in order to have access to crediting products in better conditions. Likewise, this initiative will allow SMEs to be more innovating and competitive and to expand on regional, national and international markets.”

The EUR 100 M included in the programme were reallocated from the Regional Operational Programme 2014-2020, where they were initially earmarked for guarantees. Maintaining this initial goal, the “Initiative for SMEs” programme will implement the scheme in a more efficient way, given the involvement of EIB and the funds of the “Horizon 2020” programme.

 

Related posts

One United Properties joins UN Global Compact, the largest global corporate sustainability initiative

NINE O'CLOCK

Food prices down 6.3 pc in January .Annual inflation rate at -2.1 pc in January

Nine O' Clock

“Create a new beginning with ENGIE” – a new communication platform of ENGIE Romania, signed by Cheil | Centrade

NINE O'CLOCK