Brussels, 22/07/2020 – SMEunited welcomes the European Council deal on the Recovery package. European leaders took an important step, which is a strong sign of cross-border solidarity amid the pandemic. However, important instruments for SMEs were cut severely.

Alban Maggiar

“Members of SMEunited welcome that the European Council reached an agreement on the multiannual financial framework and the recovery instrument”, said Alban Maggiar, President of SMEunited.

Nevertheless, he emphasised that “there are a number of key factors that we know are essential for facilitating a recovery. SMEs need access to finance, clear perspectives on the twin transition and a fully functioning Single Market”.

SMEunited regrets the fact that the Solvency Support Instrument (31 billion euros) was totally discarded, which sought to support economically viable companies. Moreover, the reduced budget of Horizon Europe (down from 13,5 to 5 billion euros), InvestEU (down from 30,3 to 5,6 billion euros) and the Just Transition Fund (down from 30 to 10 billion euros) can seriously undermine the transition to a fair and green economy.

“The views of economic and social partners should be integrated in the national recovery and resilience plans. SMEunited calls for a more active involvement for SME organisations when it comes to designing and implementing solutions on the ground” stated Mr Maggiar.

The SMEunited President concludes by asking the European Parliament to support SMEs liquidity and solvency and ensure them a quick availability of the funds.

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