Romania to Allocate EUR 100 M to SME Initiative

World » EU | July 8, 2015, Wednesday // 15:34
Bulgaria: Romania to Allocate EUR 100 M to SME Initiative European Commissioner for Regional Policy Corina Cretu. Photo EPA/BGNES

Romania has decided to allocate EUR 100 M from the European Regional Development Fund (ERDF)  to the SME Initiative to help the country's small businesses get better access to finance.

Bulgaria, Malta and Spain had already signed up to the SME Initiative, which is a joint financial instrument of the European Commission, the European Investment Bank and the European Investment Fund.  It is aimed at boosting the competitiveness of SMEs through improved access to financing in 2014-2020.

Regional Policy Corina Cretu said in a statement that the SME initiative “will help multiply the impact of our funds on the ground, for the direct benefit of SMEs”.

“The SME Initiative does not require co-financing from national or regional resources; without tapping into limited public budget, it is a major opportunity for job creation and economic growth in Romania,” Cretu said.

 

 

We need your support so Novinite.com can keep delivering news and information about Bulgaria! Thank you!

EU » Be a reporter: Write and send your article
Tags: Romania, Cretu, SME, financing, Competitiveness, Bulgaria Romania, Cretu, SME, financing, Competitiveness, Bulgaria
Advertisement
Advertisement
Expats.bg All Are Welcome! Join Now!
Bulgaria news Novinite.com (Sofia News Agency - www.sofianewsagency.com) is unique with being a real time news provider in English that informs its readers about the latest Bulgarian news. The editorial staff also publishes a daily online newspaper "Sofia Morning News." Novinite.com (Sofia News Agency - www.sofianewsagency.com) and Sofia Morning News publish the latest economic, political and cultural news that take place in Bulgaria. Foreign media analysis on Bulgaria and World News in Brief are also part of the web site and the online newspaper. News Bulgaria