Wednesday, July 19, 2006 7:06

100 Million Capital Funding for Southern Italy Small Enterprises Approved by EU

The ANNOTICO Report

Some Help. Some Hope !!!

EU APPROVES  100 MLN EURO STATE AID FOR SOUTHERN ITALY RISK CAPITAL FUNDS

AFX News Limited

Forbes Magazine

July 19, 2006

BRUSSELS (AFX) - The European Commission said it has approved a 100 Million Euro public funding package for risk capital funds in southern Italy investing in innovative small and medium-sized enterprises which are in the early stages of development.

The commission said that all the requirements of its 2001 communication on state aid and risk capital were satisfied, meaning th! at 'the aid does not adversely affect trading conditions to an extent contrary to the single market.'

In addition, this is the first time the commission has approved aid which compensates part of the fund managers' scouting costs when searching for new deals.

frances.robinson@afxnews.com

http://www.forbes.com/business/

feeds/afx/2006/07/19/afx2888738.html

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