Brussels, 29/09/2010 (Agence Europe) - The European Commission has stepped up a gear in its efforts to improve access to finance for small and medium-sized businesses (SMEs). European Industry and Entrepreneurship Commissioner Antonio Tajani opened the first meeting of the SME Finance Forum, which, every quarter, will bring together representatives of the Council, European Parliament, European Investment Bank (EIB), various European SME associations and banks with the industry commissioner to examine ways of improving access to credit for SMEs. The problem is double edged for Tajani: SMEs are having difficulty in borrowing from banks to invest, and public administrations are also having difficulty. “According to Eurostat figures, credit conditions hardened from 4 to 14% in the second quarter. We have to act!,” the commissioner told press, announcing that agreement had been reached between the Council and European Parliament so that the directive on late payment can be approved in October. This is good news for European SMEs which are, nevertheless, looking for further concrete progress. The European SME Union (UEAPME) hopes that the Commission will keep in place the temporary support measures for loan guarantees and venture capital, which were put in place in 2008 and are due to expire at the end of the year. (E.H./transl.rt)