EC to free up £87m for small business support
The European Commission (EC) has announced it will allocate 100 million euros (£87 million) in the EU budget to provide credit to people who want to set up small firms.
The micro-credit plan could see around 500 million euros available to small businesses, when combined with funds from other financial institutions such as the European Investment Bank group. EC president Jose Manuel Barroso said that the support is targeted at "new entrepreneurs and helping them to overcome the squeeze on credit".
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