Oseo increases its support to SMEs

Following the inauguration of Oseo, which recently formed from the merger between Anvar and BDPME's (March 2005, page 7), the group has just launched its first initiative to support the development of SMEs. A special funding package, known as Contrat de développement innovation (CDI), is currently available to all beneficiaries of Anvar's innovation schemes, as well as SMEs over three years old, provided they invest in innovative companies. The CDIs will often be accompanied by complementary bank loans, which will be guaranteed from up to 70% by Sofaris or regional funds. In the absence of complimentary bank loans, the company can nevertheless assume up to 20% of the risk, thanks to the CDI. Jean-Pierre Denis, chairman of Oseo, explains that the contract will open a pathway between SMEs and banks, giving PMEs the opportunity to invest in emerging markets. In turn the banks are encouraged to take risks, which they would never have taken without public intervention. Several hundred CDIs have been planned for 2005, collectively valued at around E100m.

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