Agreement on the new programme for the Competitiveness of Enterprises and SMEs (COSME)June 24, 2013
Funding Scheme: 2013-06-24
Pgm2014 2020: Yes
The Irish Presidency has reached an agreement with the European Parliament on the new COSME programme for the Competitiveness of Enterprises and SMEs, improving access to finance for SMEs. 2 billion euro will be dedicated to this programme during the next 2014-2020 programming period.
The agreement, secured after more than five months of intensive negotiations under the Irish Presidency, provides for:
Improved access to finance for SMEs in the form of equity and debt comprising over 60% of the total COSME budget, including:
– An equity facility for growth-phase investment will provide venture capital for SMEs through financial intermediaries
– A loan facility to provide SMEs with direct or other risk-sharing arrangements with financial intermediaries to cover loans
Improved access to markets for SMEs, to facilitate business expansion inside the EU and globally through growth-oriented support services via the Enterprise Europe Network.
Measures to improve entrepreneurial skills and attitudes, especially among new entrepreneurs, young people and women
Url description: Irish Presidency Website