Commission approves global grant for SMEs in Castile-Leon On a proposal from Mrs. Monika Wulf-Mathies, Commissioner for regional policies, the Commission has approved assistance of ECU 6,451 million in the form of a global grant, payable until 1998, for the region of Castile-Leon in Spain. The aid is to finance the loan of risk capit... On a proposal from Mrs. Monika Wulf-Mathies, Commissioner for regional policies, the Commission has approved assistance of ECU 6,451 million in the form of a global grant, payable until 1998, for the region of Castile-Leon in Spain. The aid is to finance the loan of risk capital for investment projects by small and medium-sized enterprises in the region and to provide technical support for such projects. With the expected contribution from the business community, the total planned investment is ECU 33,936 million. The intermediary body responsible for management of the measure, chosen jointly by the Spanish authorities and the Commission, is the Sociedad para el Desarrollo Industrial de Castilla y Leon. The aim of the global grant is the development and consolidation of business projects intended to strengthen, modernize and diversify the region's industrial base, such as: - New investment projects; - The enlargement of existing projects; - Initiatives to create joint structures designed to improve competitiveness in the areas of supply, marketing, research and development, transnational cooperation, etc. Countries Spain
