The Commission has released the Annual Summary Report on Financial Instruments Implementation in 2020. Financial instruments supported European small and medium-sized businesses (SMEs) and other recipients for a total of €29 billion in 2020, according to the report.

Commissioner for Cohesion and Reforms, Elisa Ferreira, said: “Financial instruments can deliver cohesion policy investments in a flexible and cost-efficient way and attract additional investments. During the coronavirus crisis, they helped to swiftly support small businesses to survive and to keep their employees. For the 2021-2027 period I am encouraging Member States and regions to make an increased use of financial instruments and their benefits.” 

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