Cyprus Mail
Business Cyprus

Intermediaries briefed on how to channel EU funding to Cyprus’ businesses

The EU representation in Cyprus on Wednesday held an information day for entrepreneurs interested in securing EU funding for business ventures.

According to EU House, there was a huge turnout at the event.

The conference was addressed to financial institutions and organisations that act as intermediaries between European institutions and small and medium enterprises (SMEs) for the channeling EU funds to the national economy.

Head of European Commission Representation in Cyprus Giorgos Markopouliotis, said: “The big challenge is how we can give the opportunity to those for whom the European programmes were designed.”

He said that in some cases, the final beneficiaries had access to European funding only through financial institutions, and their role was crucial, he added.

Experts from the European Commission and the European Investment Bank presented the new European financial tools for the period 2014-2020.

Representatives of Bank of Cyprus and the Central Cooperative Bank also spoke at the event. Topics covered included the amount of funding available for SMEs, the issue of guarantees, what sectors – including research, development and innovation – could benefit.

The European Commission and the European Investment Bank helped to allocate more than  €21 billion in 2013 to fund more than 230, 000 SMEs across member states.

How to access EU funding

Businesses can communicate with selected national financial institutions to gain access to investments or guaranteed loans supported by the EU.

If you need a loan, guarantee, or if you are interested in venture capital, visit the following website to locate banks or venture capital funds that provide financing companies supported by the EU in your country: http://www.access2finance.eu/

Information about all the financing opportunities for SMEs can also be found on the Web Information Portal Funding Programs http://fundingprogrammesportal.gov.cy

You can also contact one of the 600 network partners Enterprise Europe Network, which will be able to provide information on EU and national funding sources: http://een.ec.europa.eu/

 

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