Small and Medium Enterprises are the backbone of the European economy and the European Investment Bank (EIB) should improve effective access to funding for SME’s, says Ramona Mănescu (EPP MEP), opinion rapporteur in the International Trade Committee (INTA) on the Annual report on the control of the financial activities of the EIB for 2016.
”SME’s are the backbone of the European economy. Access to finance is one of their most pressing challenges. Thus, the EIB should improve effective access to funding for SME’s. This can be done through trade facilitation programmes and initiatives such as the European Progress Microfinance facility. The outcome will be valuable opportunities for economic growth, and jobs”, she stated.
During her intervention in INTA Committee, the Romanian MEP said that access to finance is one of the most pressing challenges in Europe nowadays and submitted several amendments regarding them:
”1) An easier access for SMEs to finance. The EIB should support the SMEs to do business abroad, including via Trade Facilitation Programmes.
2) The need to align the EIB activities with the UN’s 2030 Sustainable Developments Goals in its capacity of financial arm of the EU and for them to be in coherence with the EU’s external political agenda.
3) To support the SMEs and investors especially on the Chinese market. The EU business needs to have a strong presence abroad, with the support of the EIB.
4) A quick adaptation of EIB to current international challenges, including migration, and an active and strategic role of EIB for addressing the root causes of migration.
5) The EIB should properly consider the EU trading strategy regarding the existing and future trade agreements in supporting the EU business abroad, prioritising the countries having trade agreements with EU or currently negotiating such agreements”.
The European Investment Bank provides funding for projects that help to achieve EU aims, both within and outside the EU.
The European Investment Bank (EIB) is jointly owned by the EU countries. It seeks to: boost Europe’s potential in terms of jobs & growth, support action to mitigate climate change, promote EU policies outside the EU.