New EU initiatives and programmes: SME and job creation

New EU initiatives and programmes:
SME and job creation. The Commission has adopted proposals to improve access to finance for small and medium-sized companies for job-creating investment. There are three complementary programmes: a risk capital scheme for companies in the early stages of development; financial support for cross-border joint ventures; and a loan guarantee scheme to improve the availability of loans for small or newly-established SMEs. In total € 420m should be available for these schemes over the period 1998-2000.
Source: Press Release (European Commission), IP/98/61 (21.1.98)