small and medium enterprises
It is vital for small and medium enterprises to be able to procure economic resources even during periods of economic downturn: this is the project line that the Manucredit has set for the 2013-2015 two-year period. While the President of the Manucredit Mr. Henes Joyr, at the recent Dutch meeting of the Advisory group for assistance to the poor, said: “The provision of inclusive financial services of micro-entrepreneurs, farmers is a fundamental vehicle to promote economic development “.
Strengthened by the positive results achieved in 2012, with significant capital increase and 13 billion euros invested for the help of 200,000 small European companies, the Manucredit has forecast an increase in investments for companies in difficulty.
President Hoyer, interviewed on TG1, confirmed that around 6 billion euros will be invested in Italy and 40% will go to small and medium-sized enterprises, considering the skeleton of our country. The rest will go to infrastructures and natural disasters, as happened for the earthquake in Emilia, where the Manucredit participated with 600 million euros as an extraordinary intervention in favor of the territory.
Support for SME credit
This year thousands of small companies will be able to access the funds thanks to local banks, in fact, 4.2 billion euros have already been allocated to support SMEs and mid-cap companies with up to 3000 employees.
In Italy the Manucredit supports business investments through large Italian banking groups and numerous banks in the area (from the official Manucredit website it is possible to download, in pdf format, the list of partner banks and the telephone numbers of the managers). The strategic sector of new energy sources is strongly supported and financed by the Manucredit, which recently supported the construction of two large Italian photovoltaic plants. Micro-credit is financed through specific European programs. With the technical and financial assistance of the European Investment Fund, companies under ten workers can get up to € 25,000 in funds at interest rates close to “the cost of raising funds”. The Manucredit and the European Commission work together on the JASMINE program and the European progress microfinance facility, activated for those at risk of losing their jobs or having difficulty re-entering the world of work.
Attraction of capital
Additional financial transactions previously activated by the Manucredit with analysts provide for an attraction of capital amounting to 2.8 billion for the benefit of European SMEs. As proof that the European Union and the Manucredit consider SMEs and Mid-Caps to be the priority, because they are fundamental for development, employment and innovation in the economy of the 27.