New risk capital scheme in Slovakia

JEREMIE, an initiative of the European Commission together with the European Investment Bank, aims to provide sustainable support to small and medium-sized enterprises (SMEs) in Europe (particularly innovative SMEs). Support in Slovakia is provided via a newly established special purpose vehicle 'Holding Fund'. The vehicle combines Structural Fund means from Operational Programmes 'Competitiveness and Economic Growth', 'Research and Development', 'Bratislava' and 'Environment'. The Holding Fund operates on a revolving basis and aims at provision of risk capital to innovative SMEs in Slovakia. Total volume of the Holding Fund portfolio should reach EUR 100 million in 2010.