Budget negotiations: SME finance instruments need to be improved
September 1th, 2020 – After a significant cut on centrally managed SME finance instruments like InvestEU and Solvency Support, the main stakeholders at European level ask for some corrections during the current Trilogue negotiations between the European Council and the European Parliament.
Indeed, the agreement of the European Council on the Next General EU (NGEU) and Multiannual Framework (MFF) on 21st July is based on a massive shift of 112 billion Euro from centrally managed programmes to direct support to Member States via the Recovery and Resilience Programme. The cuts on European programmes includes the rejection of the proposal for a Solvency Support Instrument (26 billion) and a reduction of the InvestEU programme by 23.2 billion. Both will lead to a significant reduction of SME financial instruments available at European level.
Written by SME United
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