The European Commission (EC), the legislative body of the European Union (EU), recently introduced an online portal featuring small and medium-sized enterprises (SME) stock prices and providing SMEs with information on the following EC programs: the Competitiveness and Innovation Program (CIP), which offers business support services; European Progress Microfinance Facility, which supports microcredit providers; Risk Sharing Instrument Facility (RSI), which supports debt financing to SMEs for research, development and innovation projects; and the Joint European Resources for Micro to Medium Enterprises (JEREMIE), which allows EU member states to use EU structural funds to finance SMEs via equity, loans or guarantees [1].
EC and the European Investment Bank (EIB) Group, an organization that mobilizes financial support for EU objectives, recently released a joint report, “Supporting Small and Medium-Sized Enterprises (SMEs) in 2012,” that explains the EU commitment to improving financial access to SMEs [2]. In 2012, EIB Group invested EUR 13 billion (USD) in SME funding [3].
By Jennifer Young, Research Associate
Sources and Additional Resources
[1] Times of Malta.com Story, “Facilitating Access to Finance for SMEs,”
http://www.timesofmalta.com/articles/view/20130509/business-news/Facilitating-access-to-finance-for-SMEs.469018
[2] European Commission, European Investment Bank Group Joint Report. “Supporting Small and Medium-Sized Enterprises in 2012,”
http://ec.europa.eu/enterprise/policies/finance/files/joint-report_en.pdf
[3] European Commission Press Release, “Improving Access to Finance for SMEs: Key to Economic Recovery,”
http://europa.eu/rapid/press-release_IP-13-387_en.htm
[4] European Commission Small Business Portal, http://ec.europa.eu/small-business/index_en.htm
MicroCapital Story, May 7, 2013, “MICROCAPITAL BRIEF: European Bank for Reconstruction and Development (EBRD) Opens $112m in Credit Lines to Société Générale Expressbank, Sogelease Bulgaria for On-lending, Leasing to Small, Medium-Sized Enterprises,”
https://www.microcapital.org/microcapital-brief-european-bank-for-reconstruction-and-development-ebrd-opens-112m-in-credit-lines-to-societe-generale-expressbank-sogelease-bulgaria-for-on-lending-leasing-to-small-medium-siz/
MicroCapital Story, March 25, 2013, “MICROCAPITAL BRIEF: European Bank for Reconstruction and Development Plans to Invest $20m in Da Vinci Private Equity Fund II for Financial Infrastructure SMEs in Commonwealth of Independent States,”
https://www.microcapital.org/microcapital-brief-european-bank-for-reconstruction-and-development-plans-to-invest-20m-in-da-vinci-private-equity-fund-ii-for-financial-infrastructure-smes-in-commonwealth-of-independent-states/
MicroCapital Story, July 31, 2012, “MICROCAPITAL BRIEF: European Progress Microfinance Facility Signs 20th Intermediary, Reaches $98m Committed,”
https://www.microcapital.org/microcapital-brief-european-progress-microfinance-facility-signs-20th-intermediary-reaches-98m-committed/
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