special report grant commun interest subsidi loan european invest bank small medium size enterpris temporari lend facil commiss repli pursuant articl subparagraph ec content gt tabl gt introduct context object meet copenhagen june european council ask eib conjunct commiss add ecu million temporari lend facil ecu million adopt edinburgh decemb addit amount ecu million devot strengthen competit small medium size european enterpris sme provid interest subsidi maximum year year grant link job creation measur temporari facil sme refer copenhagen facil creat council decis adopt april basi articl ec treati recit decis council recal urgent natur edinburgh facil stress facil introduc quickli econom social committe issu favour opinion propos measur consid quot essenti commiss eib provid member state sme umbrella organis commun detail brief good time implement facil formal involv financi institut umbrella group brief quot legal framework council decis april lai regulatori framework main element manag measur eib behalf commun accord cooper agreement commiss eib grant loan eib basi usual method total ceil subsidis loan ecu million decis extend subsidis loan eib month date entri forc council decis april interest subsidi year period year invest project involv job creation draft annual evalu report commiss give detail utilis rate loan impact job creation interest rate court audit court report financi year resolut april give discharg commiss respect implement gener budget financi year european parliament ask court auditor commiss issu opinion earliest opportun quot manag effect copenhagen facil refer function job creation criteria appli interest rate subsidi quot european parliament interest measur prompt court auditor observ legal regular effect ecsc convers loan fact loan similar wai loan grant sme measur claus link interest subsidi job creation audit aim hand check applic regul observ hand evalu measur effect meet specif object promot invest sme creat job member state union visit order examin implement arrang impact measur nation context audit mission carri premis recipi financi intermediari member state summari main observ transfer made commiss eib treat payment account record final expenditur commiss budgetari account realiti sum paid agent distribut recipi long interv result end real cumul utilis rate budgetari fund amount budgetari account financi year show utilis rate paragraph balanc account held eib behalf commun commun balanc sheet interest revenu credit account total ecu million establish revenu period gener transfer commiss septemb gener problem rule govern record account type payment account audit paragraph court examin measur manag control system allow system inher weak identifi payment aid submiss declar interest parti entrust manag bank criteria inadequ present explain lack real penalti make fals declar lack check recipi court carri audit premis select undertak select mere mathemat extrapol audit reveal numer error confirm realiti weak paragraph arrang put place restrict equal access potenti recipi area provis council decis cooper agreement paragraph contrari provis articl cooper agreement prohibit combin sme subsidis loan loan subsidis eib agreement derog agre eib commiss case erdf aid take form interest subsidi eib loan derog agre hierarch level cooper agreement incorpor contract intermediari legal amount paid combin aid consid breach regul except appli countri paragraph court note case time applic invest advanc stage complet subsidis loan replac exist financi arrang paragraph undertak benefit measur creat job imposs establish subsidi enabl creation job question arrang implement measur includ inform establish job creat subsidis loan paragraph coordin aid offer region nation commun level suffici consider paragraph bank distribut subsidi integr financi packag offer custom origin subsidi disappear sight paragraph implement measur main characterist detail procedur implement measur set cooper agreement sign commiss eib june addendum agreement sign juli tabl set main data implement total amount loan ecu million divid member state primarili basi popul gross nation product unemploy rate sum ecu million grant result payment ecu million interest subsidi success loan applic job declar satisfi job creation criteria time report draft subsidi payment repres total ecu cancel reduc tabl implement measur member state gt tabl gt loan grant eib global lend mechan consist open line credit favour financi intermediari order financ individu loan made custom intermediari manag loan risk oper kind eib laid condit main custom sme sector activ includ list elig sector loan financ invest project eib criteria sme defin undertak net fix asset exceed ecu million fewer employe equiti own compani sme word satisfi criteria eib favour sme staff fewer subsidi paid singl instal equival ecu loan ceil ecu job creat reason amount loan exce invest subsidi exce invest emphasis amount subsidi bear relat nomin loan interest rate loan repay schedul procedur payment interest subsidi carri nation agent act mandat eib commun paid percentag calcul basi subsidi paid recipi agent act financi intermediari extend subsidis loan directli undertak involv nation agent financi intermediari applic detail loan invest amount number job plan creat applic reach nation agent juli countri deadlin postpon decemb paragraph applic ad order receipt list held agent list determin prioriti grant subsidi serv basi provid articl abovement cooper agreement subsequ august june applic undertak nation agent sworn statement give staff number april public date decis establish measur staff number date statement declar effect actual uninterrupt increas number job date month preced date statement basi document agent calcul subsidi amount paid fund dispos eib exhaust measur primarili publicis financi intermediari context normal market activ addit distribut brochur issu eib aim busi tabl summari implement timet tabl summari timet implement measur gt tabl gt manag budget appropri present account appropri appropri financ measur enter budget budget head quot employ growth europ quot initi total appropri spread financi year ecu million figur increas transfer ecu million reduc transfer ecu million budget head pilot project quot growth environ quot manag european invest fund eif final ecu million cancel respect financi year tabl result final amount appropri ecu million fund transfer account held eib behalf commun account eib paid interest subsidi claim nation agent recipi undertak fulfil condit tabl show summari movement account tabl implement appropri enter budget head quot growth europ quot gt tabl gt tabl summari movement account held eib behalf commun gt tabl gt manag budget appropri initi sum paid commiss eib account yield interest rate set cooper agreement payment treat payment account record final expenditur commiss budget account actual fact sum paid agent distribut recipi consider interv total amount subsidi transfer eib payment fund made end actual cumul utilis rate budgetari fund budget account show utilis rate year tabl tabl utilis budgetari fund gt tabl gt present account fund eib account compar payment made tabl figur clear time lag charg budget make payment size time lag call question present transfer final expenditur breach principl annual transpar budget account addit balanc account held eib behalf commun repres claim commun liabil eib commun balanc sheet interest revenu credit account total ecu million establish revenu period gener transfer commiss septemb temporari facil sme similar mechan gener problem rule govern record account type payment account audit tabl comparison amount paid agent budgetari appropri account held eib behalf commun gt tabl gt figur comparison amount credit account utilis gt pic file quot en ep quot gt million ecu appropri account end quarter combin payment subsidi combin audit regular legal result spot check find court carri spot check recipi member state germani unit kingdom itali franc spain austria recipi repres payment file number receiv facil subsidis loan check court found error file recipi grant total amount ecu million subsidi elimin error count total amount ecu million result audit find summaris tabl tabl summari error found spot check gt tabl gt number elig job amount subsidi link number job creat maintain month recipi undertak maximum categori undertak paragraph case audit court found number job elig lower number subsidis recipi audit total number job subsidis repres sum ecu million hundr fifti post equal sum ecu recipi discrep found total number discrep concern job mean ecu paid figur relat job creat subsidis declar undertak discov unreli incorrect case examin post inelig subsidi paid fact simpli creat concern undertak spain categori paragraph mean ceil post subsidis obligatori subsidis loan divid loan made intermediari bank fewer post declar partial loan question categori aros level job declar subsidis fact complet overlook nation agent eib intermediari declar undertak belong categori intermediari declar belong combin aid commun sourc prohibit articl cooper agreement stipul recipi sme subsidis loan combin subsidis loan grant eib agreement ecsc subsidis loan declar effect receipt recipi sign collect subsidi juli eib depart manag facil suggest commiss servic respons appli provis combin sme subsidi aid distribut form interest subsidi part erdf measur commiss servic concern suppos approv derog activ oppos fact court audit work detect numer case combin aid spain due fact intermediari member state exist derog spain recipi undertak audit receiv ecu receiv combin sme subsidi ecu erdf aid ecu form interest subsidi base loan eib subsidis rule prohibit combin aid appli fortiori subsidi grant loan intermediari grant subsidi provid commun budget combin aid prohibit articl cooper agreement date subsidi grant sme erdf subsidi sme subsidi discuss deem conform regul derog agre interdepartment level legal document agre level cooper agreement constitut valid except contract conclud agent financi intermediari contain text agreement amend annex regard combin ecsc subsidis loan court point risk detect annual report ecsc financi year commiss undertaken carri check list recipi sme facil publish vat paid purchas capit good constitut cost undertak deduct unit kingdom recipi audit includ calcul subsidis loan result subsidi paid lack clariti present explan rule observ total error ecu total ecu subsidi paid undertak concern ecu undertak audit unit kingdom type error found countri inelig recipi loan undertak audit court found receiv total ecu subsidi meet criteria defin sme select measur list elig sector activ paragraph loan contract stipul period year correspond period amount subsidi calcul court check found case contract last year case earli repay year total improperli paid subsidi ecu complianc elig period sworn statement number job creat suppos submit agent june date guarante avail fund payment subsidi month septemb agent suppos draw definit list recipi eib unit kingdom declar made date accept fact financi intermediari agent paragraph ask custom avail fund depend withdraw recipi prioriti list produc document made fund june result recipi longer period creat job countri recipi audit unit kingdom court found case elig period extend june case concern total amount ecu subsidi paid similar case creat maintain job period found spain ecu system weak numer error detect reflect inher weak manag control system identifi court analysi system fact subsidi paid basi declar submit recipi offer optimum guarante accuraci risk case incorrect declar repay excess receiv addit lai declar form instruct complet precis regard meant maintain increas job period month prior date declar problem interpret encount avoid draft instruct design form reduc number error detect fact oper level measur administ bank provid adequ assur regular declar gener bank occasion introduc systemat arrang check elig criteria addit job creat final penalti envisag intermediari inaccur declar arrang includ adequ compens check eib verifi agent procedur document requir facil check consist document receiv agent commiss part carri regular check connect measur suppli proof creation job problem court familiar commiss depart appli check measur type year ecsc subsidis convers loan variat countri document court prefer offici document subject check nation tax social secur author cooper agreement lai quot beneficiari contractu requir make evid verif number job creat quot commiss made previou experi court found case attempt made carri check basi prior court examin case nation agent made systemat check declar basi offici document refer document prove unsuit figur gener refer period long cooper agreement stipul subsidis loan minimum period year earli repay end period incur cancel subsidi point financi intermediari respons inform eib request obtain repay subsidi depend bank identifi secur repay subsidi inelig disburs ensur separ duti essenti order control reliabl observ rule adequ ensur addit check level fact case undeclar earli repay found spot check individu aspect order deal applic applic interest subsidi suppos dealt order receipt shown list held nation agent member state order observ belgium financi intermediari includ agent made agreement share subsidi practic contrari rule render chronolog order rule inapplic ireland system base quota imposs chronolog order true countri agent choos recipi paragraph finland agent draw chronolog list accept oral applic make check chronolog order imposs equal access council decis stipul facil commun cooper agreement provid quot adequ promot sme facil wide dissemin inform sme avail subsidis sme loan quot arrang put place restrict equal access potenti recipi area reason measur administ bank global loan contract eib exclud bank contract result usual custom netherland bank heavili involv financ sme exclud reason bank sign global loan contract eib chosen intermediari implement measur want franc belgium agent intermediari chose applic publicis facil wide denmark greec ireland luxembourg austria implement deadlin articl council decis establish measur requir eib decis make subsidis loan month date public decis april effect date deadlin grant loan recipi receipt nation agent applic interest subsidi applic fact element ensur underli loan subsidis loan made financi intermediari condit forc deadlin correctli transpos cooper agreement commiss eib reason agreement set april deadlin global contract conclud financi intermediari loan contract conclud recipi sign month sign global loan contract date april set council decis agreement set juli decemb deadlin receipt applic interest subsidi member state exhaust fund alloc juli word half month deadlin laid council decis addit speed implement measur mention recit council decis econom social committe opinion evalu effect impact invest job creation measur design encourag acceler invest sme job creation make loan packag ecu million exclus sme reduct financ cost year year assist suppos respons main concern sme creation expans stage absenc resourc adequ guarante obtain fund borrow reduc cost involv audit court systemat ask recipi financi intermediari avail subsidis loan decis factor make invest influenc amount natur timet whilst make subsidi led case audit repres amount subsidi undertak bring forward invest case examin avail subsidis loan decis factor decid invest main reason lack influenc entrepreneur strateg decis low level subsidi fact averag impact cost invest financ exclud financ charg scarc tabl low percentag consid determin factor decid invest project compar level invest need creat job ecu suffici incent real influenc decis kind monei alloc concentr target fashion tabl impact interest subsidi invest loan disburs gt tabl gt fact bank risk individu loan intermediari bank lead appli criteria accept request financ project financ accept financ back subsidis loan exist subsidis loan creat addit financ capac visit member state court examin consider evid main problem sme find financi back insuffici fund guarante offer extern lender recent initi focus financ guarante consist take temporari particip capit small undertak creation expans stage encourag financ project attract backer quot serv quot principl nation level meant project submit applic subsidi process bank advanc stage plan risk applic obtain subsidi busi owner time draw project gener submit project invest financ decid forecast impact number job fact court note case time applic invest advanc stage complet subsidis loan replac exist financi arrang interest subsidi perceiv payment link interest payment made regular interv amount receiv transfer unconnect loan bank oper declar job creat statement made entrepreneur banker reduct financ charg consid urgent interest rate high rate higher measur period applic rule laid implement measur undertak appli obtain bank loan order financ invest record increas job elig subsidis loan requir causal link creation job invest question invest effect employ made fund rationalis entail reduct job specif area undertak increas number job loan serv primarili channel subsidi expand undertak mechan decentralis distribut subsidi small individu amount bank network preced aim stimul job creation regul question exclud over invest consist financ purchas exist undertak case job creation maintain exist job ecsc subsidis loan type project strictli exclud over compani difficulti job save possibl lost audit copenhagen facil court found numer case financ subsidis invest consist take compani staff occas rescu oper allow job retain undertak continu exist job risk subsidi job creat undertak imposs prove subsidi enabl creation job question arrang implement measur includ inform establish job creat subsidis loan figur diclos commiss sum increas staff member declar undertak refer date declar date includ increas link invest financ subsidis loan data check commiss eib spot check court uncov inaccuraci figur paragraph size recipi implement arrang defin elig sme definit eib context polici categori undertak paragraph definit includ sme consider size net fix asset ecu million employe arrang distinguish categori sme includ undertak turnov ecu million total asset ecu million employe sme meet eib criteria stipul ceil ecu loan categori total subsidi ceil ecu recipi fall categori rule observ percentag recipi categori consider excess mention regard intermediari bank plai activ role encourag potenti recipi categori made effort find small undertak hand prefer larger custom effect reduc number file manag fact undertak grant subsidi ecu belong categori recipi receiv total amount subsidi ecu million ecu million geograph breakdown subsidi member state alloc sum ecu million subsidis loan stage tranch ecu million alloc member state popul weight gross nation product averag unemploy rate weight popul addit alloc carri member state criteria result calcul halv give ecu million subsequ remain balanc ecu million share origin member state basi rate utilis tranch februari final sum unus decemb redistribut countri juli list applic total amount greater fund procedur design make maximum budgetari fund practic aspect satisfactori hand member state treat differ receiv lower amount comparison countri part subsequ redistribut actual absorpt capac countri prove exce amount allot hand data calcul tranch final redistribut base suffici reliabl main reason time redistribut check procedur elimin list applic laps interim final ecu million paid interest subsidi utilis level shown countri tabl utilis rate germani low comparison initi applic includ main list reserv list main rea son underutilis earli repay caus reduct interest rate minimum period year observ earli repay made loan inelig file withdrawn reach declar stage utilis rate belgium greec finland explain manag method nation agent low rate ireland portug reflect avail advantag support programm offer nation author ireland commun author portug coordin aid offer region nation commun level suffici consider mission member state court found measur type kind advantag altern paragraph combin region nation aid highli signific proport germani competit aspect bank market provis articl ec treati eib financ invest project develop region mean individu member state suffici call support commun polici observ principl subsidiar word interven resourc market member state suffici basi eib establish global loan facil sme oper limit number product sector locat region develop area avoid take risk connect undertak develop method financ invest project network exist financi intermediari success loan subsequ grant financ project sme locat commun oper increas number sector retail trade elig eib sign global loan sme total ecu million account approxim loan activ recent year situat chang bank market competit increasingli similar term offer interest rate context financi intermediari prioriti longer avail fund obtain market borrow cost give oper margin competit includ bonu copenhagen facil subsidi financi packag propos potenti custom constitut asset comparison bank financi intermediari exclus right distribut subsidi advantag lender includ network bank relat eib paragraph addit role plai agent contribut creat circumst distort competit bank distribut subsidi aris unit kingdom financi intermediari authoris distribut subsidi subsidis loan extend intermediari act agent correspond actual commerci penetr financi market market share approxim belgium financi intermediari experienc loss custom financi intermediari initi extend subsidis loan franc financi intermediari authoris grant subsidis loan largest nation market learnt measur indirectli delai paragraph bank distribut subsidi integr financi packag offer custom origin subsidi disappear view bank present facil quot bank temporari facil sme quot recipi awar subsidi major thought eib subsidi except case recipi subsidi financ commun budget conclus practic temporari facil sme consist distribut premium bank network job creat undertak invest borrow background stage develop advanc imposs show direct link subsidi question creation job imposs affirm facil contribut job creat bank distribut subsidi bank risk chose project criteria financ case subsidi applic quot serv quot principl led numer project put forward advanc stage plan effect employ fact guarante paragraph reduct financ cost perceiv incent level interest rate record recent year recent initi offer guarante facil consist take share small undertak financ difficulti creation expans stage suit real paragraph check carri court premis undertak mere mathemat extrapol reveal numer error tabl number irregular concern job declar creat maintain month fact case job paragraph case rule observ larg part due temporari natur facil base regul ad hoc mechan administ bank reli sworn statement made recipi past experi commiss depart court previou recommend turn account offset system defici fact commiss eib carri check compens weak paragraph bank chosen distribut subsidi opportun custom loyal attract client case creat situat lead distort competit bank market paragraph facil financ transfer signific sum commiss eib long time advanc actual date year period fund eib cash resourc monitor framework commun account system paragraph report adopt court auditor luxembourg meet februari court auditor jan karlsson presid conclus reach meet decemb edinburgh european council request council eib commiss establish temporari lend facil ecu million design acceler financ infrastructur project connect tran european network council decis ec april oj opinion econom social committe octob oj paragraph cooper agreement sign june report submit octob decemb european parliament decis april oj paragraph annual report court auditor ecsc financi year oj paragraph subsidi paid amount loan grant paragraph undertak make applic precis number recipi case lower appli number job creat recipi made applic number time applic sum figur appear recipi declar sourc eib descript eib global loan quot eib inform quot novemb pp commiss decid appli ceil state invest aid sme assist region commiss commun commun guidelin aid sme oj paragraph ireland eib paid subsidi greec ministri financ disburs subsidi declin payment interest credit end month rate equival monthli averag daili interest rate set ecu clear system opinion propos council regul euratom ecsc ec amend financi regul decemb applic gener budget european commun oj paragraph court dealt issu account treatment advanc instal interest opinion juli propos council regul euratom ecsc ec amend financi regul decemb applic gener budget european commun commiss decis novemb establish global subsidi object region spain framework erdf oper period oj paragraph vat paid purchas good principl govern tax financi claim undertak tax author token enter asset undertak balanc sheet belgium initi financi intermediari agent extend subsidis loan subsequ financi intermediari addit custom eib awar loss custom intermediari displai dissatisfact situat request eib opportun extend subsidis loan custom grant month launch measur financi intermediari order make delai financi intermediari demand agreement set quota subsidi distribut custom recit council decis ec april oj quot european technolog facil start facil quot quot sme guarante facil quot initi quot sme technolog facil quot framework subject conclus extraordinari council meet novemb luxembourg council decis fourth report commiss rel implement measur final octob paragraph final octob paragraph final octob paragraph final decemb paragraph fourth report commiss rel implement measur final decemb paragraph commiss mention figur give sourc data obtain eib give figur data numer classif error eib public quot year activ quot tabl head quot loan sign european union quot court annual report financi year oj paragraph commiss repli summari main observ true interest subsidi small medium size enterpris record budgetari account impress utilis rate fact subsidi simultan paid final beneficiari eib time held eib appear asset side balanc sheet commiss claim system base sworn declar final beneficiari bank check agent institut proper system verifi receipt declar articl cooper agreement wrongli paid subsidi paid back council provid scheme implement eib global loan mean bank fund extend scheme unmanag econom unjustifi small amount involv scheme reach object region possibl combin commun grant true begin programm project fund difficult avoid urgenc scheme set impact diminish time difficulti quantifi employ effect interest subsidi microeconom level scheme deliv messag support encourag job creation public author busi leader european level number measur necessarili limit fulfil posit function help creat environ conduc promot growth job creation small busi accord broad object set preambl council decis scheme appli uniformli europ simpli imposs ensur coordin region nation aid scheme result combin contrari subsidiar principl number financi intermediari part system surpris court found number differ present origin subsidi quot disappear view quot perfectli legitim reason scale complex bank system involv varieti nation region aid scheme manag financi intermediari implement measur procedur decis agent combin role financi intermediari dictat consider effici bank paramount concern short start stage scheme oper guidelin drawn bank contain specif claus effect agent act financi intermediari directli disburs subsidis loan special experi manag financi scheme type includ commun scheme ecsc loan conjunct commiss eib issu multilingu brochur outlin scheme distribut particip numer present meet held beneficiari countri bring commiss bank organis repres target group manag budget appropri present account manag budget appropri futur commiss ensur sum held eib pend transfer final beneficiari subsidi balanc sheet present account manag commiss account bank scheme bank commiss agre exchang letter august septemb amount ecu return commiss novemb year budget fund account post disburs phase amount consist interest earli repay propos recast financi regul includ provis requir public privat financi intermediari provid inform state fund hold behalf commiss interest paid bank charg incur commiss favour treat payment budgetari expenditur advanc payment transfer ownership ensur greater transpar budget implement issu recoveri order interest gener commiss share court auditor view interest establish annual entitl propos recast financi regul provis point tighten oblig authoris offic audit regular legal result spot check find case aid sme scheme combin erdf aid account total amount error combin aid commun sourc prohibit commiss opinion scheme reach object region combin commun subsidi commiss eib carefulli monitor question combin ecsc loan commiss carri check identifi duplic fund scheme ecsc reveal tini number potenti case duplic case identifi similar analys consid potenti doubl financ analys individu case clear inform receiv present time case requir visit audit statement final decis depend inform receiv joint commiss eib inspect arrang inelig recipi loan part monitor scheme involv deleg financi intermediari commiss tighten check elig avoid case system weak scheme reli deleg respons agent intermediari interest effici keep natur global loan facil import group target scheme number natur beneficiari thousand sme averag size subsidi ecu hard imagin system buckl weight procedur note sworn declar complet recipi submit financi intermediari stress recipi laid open civil crimin prosecut made fals declar incorrect declar detect court investig eib case legitim defenc eib initi recoveri procedur financi intermediari bank requir inform eib earli repay global loan repai subsidi line philosophi scheme reli deleg respons agent intermediari eib check repay list recipi individu aspect order deal applic except quot serv quot rule authoris bank member state light circumst connect econom administr situat equal access council decis loan scheme worth ecu million grant accord eib global loan mechan urgenc scheme put effect commun bank restrict exclus exist network financi intermediari intermediari select basi oper criteria relat financi capac type activ willing fulfil condit laid bank project manag follow legitim expect council realis imposs meet tight deadlin scheme adopt implement extend network bank involv eib global loan limit volum scheme attempt imposs justifi econom ground type select particip bank inevit meet tight deadlin impos council bank financi institut global loan contract eib simpli particip system charg scheme inevit entail small sum countri mention justifi lack wide public public arous fals expect burden bank applic satisfi countri question bank elicit project client fulfil condit laid gener fact scheme fund gener fall interest rate led seri repay failur compli requir durat loan demonstr satisfactori level promot equal access scheme size reserv list countri reflect genuin equal access implement deadlin quot decis extend loan benefit subsidi quot articl council decis requir bank quot month date entri forc decis quot decis eib board director extend global loan financi intermediari text decis refer alloc global loan physic imposs alloc fund scheme final beneficiari period month commiss bank rais question back thought ambigu point contrari eib compli council request set scheme financi intermediari conclud contract amend exist deadlin disburs phase extend period perfectli normal context global loan evalu effect impact invest job creation european council polit decis foster creation job fix paramet framework decis commiss eib respect council decis client creditworthi project viabil essenti element bank practic natur bank appli object criteria order select project promis viabl list applic hand commiss believ fact loan sound term financi criterion creditworthi firm necessarili project receiv loan decis factor bank decis extend loan ratio firm financi oblig oper result abil honour commit reduct compani financi charg commun contribut factor influenc extens loan firm question true start programm ongo project fund difficult avoid situat start phase impact declin time payment interest rate subsidi lump sum advantag simplest cheapest solut administr point view increas visibl scheme addit reduc expens compani concern improv gener level financi charg import factor decis extend loan scheme launch persist concern director small busi commiss claim interest rebat singl determin factor beneficiari decis undertak job gener invest project interest subsidi form part packag includ measur local region nation level creat favour context achiev prioriti commun object import thing subsidi scheme undoubtedli polit intent support europ wide messag support encourag public author entrepreneur promot job creation number measur limit scope fulfil posit function help creat environ conduc promot growth job creation sme line broad object formul preambl council decis scheme undoubtedli help speed implement invest decis entrepreneur small busi improv competit posit invest rationalis modernis increas capac job creation result success market fill order busi expand declin sector macroeconom level real rate interest factor influenc level invest size recipi court find confirm bank commit compli rule alloc subsidi scheme appli stringent criteria geograph breakdown subsidi provis made start access member state calcul account amount time remain alloc sum imposs ensur reach coordin aid scheme region nation commun level scheme commun appli uniformli member state inevit superimpos nation commun measur region receiv special aid consid contrari principl subsidiar competit aspect bank market eib cooper vast network bank financi institut countri oper eu accord articl statut council take featur account entrust bank task includ grant interest rate subsidi insid european union eib select financi intermediari appli object criteria creditworthi qualiti imposs unlimit number financi intermediari europ administ commun interest rate subsidi sme limit amount limit period number reason bank satisfi eib criteria agre manag global loan interest rate subsidi final form select particip bank inevit meet tight deadlin impos council implement scheme reflect market share particip bank scheme kind provid quota appli bank take part principl quot serv quot adopt inevit differ level commerci motiv depend institut compar larg share account intermediari subsidi grant reflect tradit import intermediari eib global loan unit kingdom scheme subject commerci procedur made bank unit kingdom intermediari act agent combin experi includ experi commun scheme ecsc human resourc willing role conclus fact causal link interest rate subsidi invest difficult prove microeconom level macroeconom level real rate interest gener recognis factor affect level invest scheme europ wide messag support encourag public author entrepreneur promot job creation number measur limit scope fulfil posit function help creat environ conduc promot growth job creation sme line broad object formul preambl council decis true begin programm number ongo project receiv fund speed scheme implement difficult avoid situat start phase impact declin time addit reduct financi charg compani concern favour influenc bank decis extend credit improv ratio compani financi charg oper result ratio import factor decis grant loan commiss welcom court favour respons recent initi commiss carefulli investig case refer court view econom climat time council decis stress scheme implement rapidli matter urgenc imposs reconcil develop complex regul urgenc size group target scheme number natur beneficiari thousand sme averag size subsidi ecu hard imagin system buckl weight procedur scheme involv limit fund limit time span implement unlimit number financi intermediari europ sort select inevit bank unwil administ global loan interest rate subsidi