Brussels, 26/03/2009 (Agence Europe) - On Tuesday 24 March, the European Commission approved the Working Capital Guarantee Scheme, a United Kingdom scheme to encourage banks to provide new lending to businesses in the UK.
With the current global financial crisis, banks have become increasingly risk averse and are reducing credit ceilings. Under the scheme, the UK will offer banks up to £10 billion of guarantees in respect of portfolios of working capital loans to sound, credit-worthy...