Juncker Plan: €800 million for innovative small and medium-sized businesses in eleven countries
The European Investment Bank (EIB) and ProCredit Group are providing €800 million to innovative small and medium-sized companies (SMEs), under the European Fund for Strategic Investments (EFSI), the core element of the Investment Plan for Europe, or “Juncker Plan”, and the InnovFin SME Guarantee Facility. The financing will target companies using new technologies and producing new products in one of the eleven countries where the facility is available (Albania, Bosnia and Herzegovina, Bulgaria, Georgia, Germany, Greece, Moldova, the Republic of North Macedonia, Romania, Serbia and Ukraine). A press release is available here. As of June 2019, the Juncker Plan has mobilised nearly €410 billion of additional investment. The Plan is currently supporting 952,000 small and medium businesses across Europe. (For more information: Annika Breidthardt – Tel.: +32 229 56153; Enda McNamara – Tel.: +32 229 64976)
Competition: European Commission publishes 2018 Report on Competition Policy
The European Commission has today published the Report on Competition Policy for 2018, presenting its most important policy and legislative initiatives, as well as key decisions adopted last year. The 2018 report stresses how fostering a competitive internal market benefits both EU consumers and companies, with a focus on the effectiveness of competition enforcement, challenges in the digital economy, a more resilient financial sector and a fair and non-discriminatory taxation of firms active in the EU, as well as on promoting a global competition culture. The full text (available in EN, FR, and DE and other languages) and the accompanying staff working document (available in EN) are available here. (For more information: Ricardo Cardoso – Tel.: +32 229 80100; Maria Tsoni – Tel.: +32 229 90526)
Mergers: Commission clears the creation of a joint venture between Apollo and Ares
The European Commission has approved, under the EU Merger Regulation, the creation of a joint venture by Apollo Management, L.P. (“Apollo”) and Ares Management Corporation (“Ares”), all of the US. The joint venture will be active in the exploration and development of oil and natural gas properties, and will only have activities in the US. Apollo is active in the private investments sector with investments in various businesses throughout the world. Ares is a publicly traded global alternative asset manager. The Commission concluded that the proposed transaction would raise no competition concerns because the joint venture has no actual and foreseen activities within the European Economic Area. The transaction was examined under the simplified merger review procedure. More information is available on the Commission’s competition website, in the public case register under the case number 9400. (For more information: Ricardo Cardoso – Tel.: +32 229 80100; Maria Tsoni – Tel.: +32 229 90526)
ANNOUNCEMENTS
European Union presents EU progress on Sustainable Development Goals at UN High Level Political Forum in New York
Commissioner for International Cooperation and Development Neven Mimica and Commissioner for Environment, Maritime Affairs and Fisheries Karmenu Vella are attending the United Nations High Level Political Forum on Sustainable Development this week, to present the EU’s progress towards the Sustainable Development Goals – both within the European Union and internationally. A detailed review of progress will be presented at the main EU side-event co-hosted with Finland on Thursday 18 July. During the week, Commissioner Mimica will also participate in an event organised jointly with France addressing the links between inequalities and climate change; an event on clean energy transition co-hosted with Ethiopia, the UN Department of Economic and Social Affairs and the International Renewable Energy Agency; an event of the International Labour Organisation to accelerate efforts to end forced labour; and an event hosted by Iceland and Malawi on bridging the gap between education and youth employment. (For more information: Carlos Martin Ruiz de Gordejuela – Tel.: +32 229 65322; Daniel Puglisi – Tel.: +32 229 69140)
Commissioner Avramopoulos in Greece
Today, Dimitris Avramopoulos, Commissioner for Migration, Home Affairs and Citizenship, is in Athens, Greece. This morning, he met with newly elected Prime Minister Kyriakos Mitsotakis. Commissioner Avramopoulos also met with State Minister George Gerapetritis, Minister of Civil Protection Michalis Chrysochoidis, Minister for Shipping and Island Policy Ioannis Plakiotakis and Alternate Minister for Migration Giorgos Koumoutsakos to discuss migration and security policy. (For more information: Natasha Bertaud – Tel.: +32 229 67456; Markus Lammert – Tel.: +32 229 58602)
Upcoming events of the European Commission (ex-Top News)
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