EU money for firms planning investments to be used up in 2010

The last sums of the EU funds earmarked for investments will be spent this year with the launch of the last project calls. In 2010, authorities will put up the entire 225m-euro budget left for firms wanting to acquire manufacturing lines, equipment, to invest in retooling, modernisation, production facility construction. Total 550m-euro EU funds were earmarked until 2013 for SMEs and large enterprises (with more than 250 employees and net turnover of above 50m euros i.e.) for investments. So far, half this budget has been made available for firms that submitted more than 3,000 projects. The high number of applications made authorities allocate the available money much faster, so that firms will have the entire 225m-euro budget that is left at their disposal through the launch of three calls for projects. A budget of 70m euros is left for investments of up to 250,000 euros, with the project call to be launched in May, while a lower budget, of 45m euros, is available for investments of between 250,000 and 1.5m euros, with the call for projects scheduled for July, meaning that around 337 firms will be able to get European funds.