Macedonia and Moldova join EU SME financing plan » SMEInsider

Macedonia and Moldova join EU SME financing plan

EU

For the first time a country from the Eastern Partnership, Moldova, has joined the EU’s Competitiveness of Enterprises and Small and Medium-Sized Enterprises Programme (COSME) (2014-2020).

Yesterday, Commissioner for Industry and Entrepreneurship Ferdinando Nelli Feroci signed two Agreements with the former Yugoslav Republic of Macedonia and Moldova formalising the entry of both countries into COSME.

COSME, with a total budget of 2.3 billion euros, promotes entrepreneurship and entrepreneurial culture, improves access to finance for small and medium-sized enterprises (SMEs) and access to markets, boosts the competitiveness of enterprises, and in particular SMEs.

“Compared to economic giants as the US, India and China, the European common economic space is still comparatively small, as well as fragmented” said Ferdinando Nelli Feroci, Commissioner for Industry and Entrepreneurship.  “We have a clear policy to complete our internal market and to reduce business barriers with the countries surrounding us. We are coming closer to each other in our policies; we want to create business networks and promote regulatory alignment across borders, therefore we also create a larger environment for business success and growth for all of our companies.