EPP calls on SME focus in Europe’s recovery plan

The Group of the European People’s Party (EPP Group) called on the European Commission to be particularly attentive to small businesses in designing Europe’s recovery plan.

“Commission Vice-President Valdis Dombrovskis acted quickly and decisively to support Member States to the fullest during the early stages of the Coronavirus crisis”, said Markus Ferber MEP, the EPP Group’s Spokesman for Economic and Monetary Affairs, ahead of a debate in the European Parliament’s Committee on Economic and Monetary Affairs with Dombrovskis.

“Now, it will be important that the European Commission comes up with a smart strategy to allow banks and other financial intermediaries to finance the recovery “, Ferber continued, recalling that the European Commission will propose a law later today to unlock more lending capacities of European banks.

Ferber insists that they are particularly attentive to small businesses. “We must put banks in a position to channel funds to the real economy, in particular Small and Medium-Sized Enterprises”, concluded Ferber.