Brussels, 06/11/2001 (Agence Europe) - Michel Barnier, the European Commissioner responsible for Cohesion Policy, announced on Monday in London that business investment funds would be launched in favour of four regions of the United Kingdom: Merseyside, South Yorkshire, West Wales and the Valleys, Cornwall and the Isles of Scilly. These regions, which are eligible under Objective I of the Structural Funds (promotion of development and structural adjustment for regions lagging behind in development) for the period 2000-2006, have worked together on the setting up of a risk capital fund to support small and medium sized enterprise (SME). Community participation in the operation is by way of EUR 145 million. It will attract a further EUR 177 million from the public and private sectors. All these resources, totalling EUR 322 million, should allow the creation and safeguarding of some 30,000 jobs and will assist and help start 3,800 enterprises over the next 10 years. The beneficiary regions are characterised by low business density, low levels of start-up activities and a gap in the financing market. Four independent organisations - Merseyside Special Investment Fund, Finance Wales, South Yorkshire Investment Fund and Finance Cornwall - are to make the funds and services available to SMEs tailored to meet their specific needs and to contribute to developing the economy of these regions.