Local view for "http://purl.org/linkedpolitics/eu/plenary/2009-11-24-Speech-2-382"
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"en.20091124.35.2-382"2
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"Mrs Ţicău, that is a very worthwhile point, and I am pleased to be able to tell you that this is exactly what the Commission thinks and is therefore exactly how it has acted. I want to reiterate that the crucial problem for our small and medium-sized enterprises is attaining the necessary venture capital in order to be able to pay for research and development. Two important instruments have been created in this area, namely the Competitiveness and Innovation Framework Programme and the JEREMIE programme.
In both cases, the issue at hand is the same, namely the ability to mobilise cut-rate credit via the European Investment Bank and the European Investment Fund, respectively, with the aid of venture capital – in other words, the direct participation of business capital – and with the aid of guarantees, in order to facilitate access for small and medium-sized enterprises to this credit. These are major investment programmes in which many hundreds of thousands of European businesses take part.
I am sure you understand that the European Investment Bank and the European Investment Fund are not able to manage the details of each individual granting of credit. That is why this takes place via intermediaries, usually banks in the Member States. According to the most recent information I have, the situation is that we have reached a position in all the Member States whereby the national banking system is integrated into this policy and businesses that are seeking access to the funds provided from the Community budget are able to get said funds via the national banking system in question."@en1
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