Minister for Economics Louka Katselis announced a package of measures ( credits, bank guarantees, subsidies over 9 bilion euros) to give a breath to tens of thousands of middle-sized businesses facing liquidity problems within the frame of “National Support Plan for Middle-Sized Businesses 2010-2013”. The new programs for 2010 will channel over 1 billion euros into middle-sized businesses this year said Mrs. Katselis. In his message, Prime-minister G. Papandreou expresses his willingness for support of middle-sized businesses.
New Programs
The contract signed between Minister for Economics, Louka Katselis and factors of the business world includes three basic action axes which are: support of innovation and competitiveness (simplification of procedures, combat of bureaucracy, access of middle-sized businesses to state supplies etc), boost extroversion ( support exports, train human dynamic), boost liquidity (new financial tools, facilitation of access to guarantees and capital, strengthen cooperation with MM etc).
Mrs. Katselis announced three new package of measures starting soon with national funds and ESPA capital mounting to 1 billion euros and expected to triple with participation of banks.
Specifically the package of measures regard:
Activation of Jeremie initiave mounting to 290 million euros in cooperation with European Investment Bank.
To set up Enterprise Fund with a capital of 460 million euros from the Operational program “Competitiveness” providing for financement of investments totaling 1.5 billion euros in the next three years.
Proclamation of actions of 300 million euros budget by the General Secretariat of Industry within ESPA frame.
The total sum for actions to support middle-sized businesses approach 9.3 billion euros as pretty soon 2.6 billion will be allocated to manufacturing, trade, services, technology, public notices mounting to 339 million euros, TEMPME guarantee funds approaching 4.8 billion euros and new programs for 2010 mounting to 1.5 billion euros.
Mrs. Katselis, specifically referred to TEMPME actions, after complaints about banks’ unwillingness to forward businesses’ requests to enlist in guarantee funds programs. Mrs. Katselis admitted that there were problems but underlined that flow of financing will soon normalize.
Mrs. Katselis read a message by the Prime-minister, who expresses his willingness and commitment to support middle- sized businesses facing problems emerging from the financial crisis. He underlines that the country for the first time was so close to bankruptcy and continues: “The painful decisions we made ensured the continuation of operation of the state and actually the society itself. We gained the time we needed to make the big changes the country needs to breath and correct the problems which led us to this point. It is our obligation to continue our effort with the same courage and determination.
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