Home / Knowledge / News / Textiles / 'Valencia govt must support textile firms for EU COSME'
'Valencia govt must support textile firms for EU COSME'
Dec '13
The government of the Spanish autonomous community of Valencia should encourage the participation of Valencian textile firms in the new program for the Competitiveness of Small and Medium Enterprises (COSME) initiated by the European Union (EU), said director general of European Funds and Projects Juan Viesca, during the recently held Association of Textile Entrepreneurs of Valencia (ATEVAL) meeting of European clusters of technical textiles.
According to the director general, the COSME project of EU is scheduled to begin from January 1, 2014 and would be ongoing for the period 2014-2020, with an investment of €2.3 billion. 
The director general explained that the European Commission estimates that around 330,000 EU companies can benefit through the COSME funding mechanism, which will undoubtedly lead to the creation of jobs.
During the ATEVAL meeting, the EU official said that almost €1.4 billion from the €2.3 billion COSME budget has been allocated to loans and risk capital to complement domestic financing in these SMEs.
Under the COSME project, SMEs in the EU countries would be provided with the credit facility of up to €150,000 to strengthen their competitiveness and sustainability, in order to promote culture of entrepreneurship as well as growth of SMEs.
The COSME project will help various SMEs, including textiles, to benefit from easier access to the EU markets and international markets, the entrepreneurs who want to work on their own and are facing challenges for expanding business would receive tailored services and supports and the authorities of the EU member states would also assist to develop and implement effective policy reform related to SMEs.

Fibre2fashion News Desk - India

Must ReadView All

Textiles | On 24th Jun 2017

Applied DNA to tag cotton for 2017/18 US ginning season

Applied DNA, provider of DNA-based supply chain security,...

Apparel/Garments | On 24th Jun 2017

NPD Group launches Trend Tracker for apparel trends

Global information company the NPD Group has launched Trend Tracker,...

Textiles | On 24th Jun 2017

Cotton USA’s first innovation competition in UK ends

Cotton USA has announced the successful close to its first innovation ...

Interviews View All

Anshul Sood

‘Indian footwear market is nascent and largely a trend follower’

Riddhika Shah
SS Homme

'Worsted wool is the ideal fabric for menswear'

Janak Dhamanwala & Sunil Dhamanwala

Moving towards sustainability is also a social change

Kevin Nelson

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Rupa Sood and Sharan Apparao

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Madhu Jain
Madhu Jain

She grew up in the walled city of Old Delhi, completed her studies, and...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies


news category

Related Categories:
June 2017

June 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.


Browse Our Archives


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search