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- Title
The Growth and Environment Scheme.
- Authors
Leistner, Marc
- Abstract
The Growth and Environment Scheme, which is sponsored by the European Commission and managed by the European Investment Fund, seeks to promote sustainability by supporting environmentally friendly investments of small and medium-sized enterprises (SMEs) in the European Union. A network of intermediaries, currently consisting of 25 institutions throughout the European Union, offers beneficial financing conditions under the scheme. Intermediaries are in a position to do so because the European Investment Fund guarantees a part of the risk (up to 50%) of each loan. In line with the delegation principle, intermediaries select the relevant loans on the basis of their normal credit procedures. SMEs wishing to enjoy support under the scheme should therefore contact the respective participating institutions. Intermediaries also assess the environmental eligibility of each proposed investment. By the end of June 1999, some 1,400 SMEs had benefited from the scheme for total investments of €525 million. The scheme contributes significantly towards promoting environmental awareness in financial institutions and small and medium-sized enterprises.
- Subjects
EUROPEAN Union countries; SMALL business -- Environmental aspects; INVESTMENTS
- Publication
Greener Management International, 1999, Issue 27, p79
- ISSN
0966-9671
- Publication type
Article
- DOI
10.9774/GLEAF.3062.1999.au.00009