Press Release: COSME: the European Commission and the European Investment Fund sign agreement which will boost funding opportunities for SMEs

The European Commission and the European Investment Fund (EIF) on the 22 July 2014 signed an agreement enabling small and medium-sized enterprises (SMEs) in Europe to have an access to up to € 25 bn of additional finance.

Thanks to the € 1,3 bn allocated in the COSME budget for SME financing, it will be possible to mobilise up to € 25 bn via leverage effects from financial intermediaries over the next seven years. The agreement paves the way for providing equity and debt financing for SMEs under the EU Competitiveness of Enterprises and SMEs (COSME) programme by the end of 2014.

European Commission: DG Enterprise and Industry: All topics: Cosme http://ec.europa.eu/enterprise/initiatives/cosme/index_en.htm

ESO: Background information: Unleashing Europe's potential through mobilising up to €25 billion of finance for SMEs http://www.europeansources.info/record/press-release-unleashing-europes-potential-through-mobilising-up-to-e25-billion-of-finance-for-smes/

EurActiv, 23.07.2014: €21 billion of EU loan guarantees for banks to boost SME lending http://www.euractiv.com/sections/innovation-enterprise/eu21-billion-eu-loan-guarantees-banks-boost-sme-lending-303645

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