Press Release: Improving access to finance for SMEs: key to economic recovery

Small and medium sized enterprises (SMEs) will drive the recovery in Europe, but they need improved and easy access to finance. Over the last few years the European Commission has been constantly working to improve their situation.

This commitment is reiterated in a joint European Commission/European Investment Bank (EIB) Group report published 2 May 2013. At a time when the situation remains difficult, the EIB Group's support for SMEs reached €13bn in 2012. In addition, with a budget of €1.1bn, Commission-funded guarantees helped to mobilise loans worth more than €13bn, boosting nearly 220,000 small businesses across Europe.

This report covers the results of the current funding schemes as well as the new generation of financial instruments for SMEs. Financial resources for SMEs will be significantly enhanced through the €10bn increase in the EIB’s capital.

European Commission: Rapid: MEMO/13/393: Improving access to finance for SMEs: key to economic recovery http://europa.eu/rapid/press-release_MEMO-13-393_en.htm?locale=en

European Commission: Rapid: SPEECH/13/381: SMEs Finance Forum http://europa.eu/rapid/press-release_SPEECH-13-381_en.htm

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