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Improving access to finance for SMEs, one of the keys to economic recovery

May 2, 2013 | News

(02 May 2013) – SMEs will drive the recovery in Europe, but they need improved and easy access to finance. This assertion is reiterated in a joint European Commission/European Investment Bank (EIB) Group report published today.

The EIB Group’s support for small and medium sized enterprises (SMEs) reached €13 billion in 2012. In addition, with a budget of €1.1 billion, Commission-funded guarantees helped to mobilise loans worth more than €13 billion, for the benefit of nearly 220 000 small businesses across Europe.

Today´s 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 enhanced through a €10 billion increase in the EIB’s capital.

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