What is new in the plan for SMEs?
The plan aims to enhance access to financing for SMEs. The EIB has put together an overall package of loans to SMEs which will now reach 30 billion euros for the period 2008-2011. In addition, an additional 1 billion euros will be conferred by the EIB to the EIF for a mezzanine finance facility. The EIF will also accelerate the implementation of the financial instruments under the EU’s Competitiveness and Innovation Programme. Meanwhile, Member States should make full use of the recently reformed rules for granting state aid, particularly for SMEs. To assist them, the Commission will put in place a simplification package, notably to speed up its state aid decision making. In addition to this, the Commission will make it temporarily easier for Member States to grant certain kinds of aid to SMEs (e.g. loans for investments in the manufacture of products complying early with, or going beyond, new Community standards which increase the level of environmental protection). The Plan also cont
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