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S Korea to invest KRW 50 trillion on SMEs in 2009

Yonhap reported that South Korea will seek to provide about KRW 50 trillion in new funds to smaller companies in 2009 to help them cope with cash shortages amid a slumping economy. Smaller local companies are suffering from a liquidity squeeze as banks have become wary of lending to them due to mounting bad loans. Financial Services Commission said in ...

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Bank Negara Establishes RM2 Billion SME Scheme

Bank Negara Malaysia has established a RM2 billion SME Assistance Guarantee Scheme (SAGS) to ensure that viable Small and Medium Enterprises (SMEs) adversely impacted by the current economic slowdown continue to have access to adequate financing. With the guarantee cover, it is envisaged that access to financing to viable SMEs will be enhanced and at a lower cost, the central ...

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Barclays SME lending pledge

Barclays – LON: BARC – has announced increased financial support to UK SMEs. Barclays currently has some £15 billion in lending balances in place with SME customers in the UK market, representing a six per cent year on year increase. On December 15, the bank announced it would be making at least a further £1.5 billion available to SMEs in ...

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Gov’t to reallocate almost €1 billion to support SMEs, PM says

The government will reallocate 260 billion forints (EUR 972.59m) in funds from various operative programs to the economic operative program in order to provide support for small- and medium-sized businesses in Hungary, Prime Minister Ferenc Gyurcsany told a press conference in Budapest on 17 December. Gyurcsany said that both refundable and non-refundable support would be made available to SMEs for ...

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European investment for SMEs in India

Mr. Sergio Arzeni, Director of the Centre for SMEs and OECD The European Commission (EC) and Organisation for Economic Cooperation and Development (OECD) are jointly looking forward to open centers in Gujarat and other parts of India for the business development and strategies exchanges of Small and Medium-Sized Enterprises (SMEs). Sergio Arzeni, Director of the Centre for Entrepreneurship, Small and ...

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Brazil provides $7 bln to SMEs amid global economic crisis

Finance Minister of Brazil, Guido Mantega announced that Brazil will provide 15 billion reais (7 billion U.S. dollars) for small and medium-sized enterprises (SMEs). Such measures are the latest actions taken by the Brazilian government aimed at increasing liquidity in the market and the working capital of companies. It is reported that 10 billion reais (4.67 billion dollars) were obtained ...

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Tax bonus to help small business through the crisis, says Rudd

ABOUT 1.3 million small business owners will get a New Year tax bonus worth $440 million in the latest government response to the global financial crisis. Prime Minister Kevin Rudd is expected to unveil a 20 per cent cut to small business pay-as-you-go installments for the first quarter of next year. The waiver is designed to help small businesses who ...

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SME cluster programme being redrawn with UNIDO help

The contours of cluster development programme for small and medium enterprises (SMEs) look set to be redrawn under joint programme of the Department of Industrial Production and Promotion (DIPP) and the United Nations Industrial Development Organisation (UNIDO). Eight clusters have been identified and an action plan for integrated development of these as model clusters would be announced soon. The Integrated ...

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Small enterprises to get loans at lower rates

Public sector banks on December 15, lowered interest rates on existing as well as new loans to micro, small and medium enterprises (MSMEs). The interest on loans to micro enterprises has been reduced by 100 basis points (1 percentage point) and for small and medium enterprises by 50 basis points. Government-owned banks have also decided to provide ad hoc, need-based ...

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