Brussels, 21/11/2013 (Agence Europe) - On Thursday 21 November, MEPs approved an EU programme for the Competitiveness of Enterprises and SMEs (COSME) for 2014-2020. COSME aims to improve access to finance and markets for small and medium-sized enterprises (SMEs), support entrepreneurs and create more favourable conditions for setting up new companies and growth.
By adopting (by 554 votes to 27, with 18 abstentions) the report of Jürgen Creutzmann (ALDE, Germany) on this programme, the EP has ratified a text that allows for the investment of a least 60% of the programme's €2.03 billion budget in 2014-2020 (2011 prices) to provide funding through risk-capital or loan guarantees for SMEs. Other parts of the programme will focus on helping national authorities to reduce bureaucracy and SMEs to get access to markets.
The Council is expected to endorse the draft regulation soon, as an informal deal between MEPs and member states has already been struck, in June 2013. (LC/trans.fl)