Home / Knowledge / News / Textiles / 'Valencia govt must support textile firms for EU COSME'
'Valencia govt must support textile firms for EU COSME'
07
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 29th Apr 2017

EU rules needed to curb textile worker exploitation: MEPs

European Union (EU) rules are needed to oblige textile and clothing...

Apparel/Garments | On 29th Apr 2017

US retail operating growth to be 1.5-2.5% in 2017: Moody's

The forecast for operating income growth in the US over the next 12...

Textiles | On 29th Apr 2017

Slight drop in Unifi 2017 Q3 sales

The net sales of Unifi Inc., one of the world's leading innovators in ...

Interviews View All

Manfred Mentges
Sedo Treepoint GmbH

We see a higher demand in colour management systems, as customers see big...

Dharmendra Shah
Ozone PB Spintex Limited

‘We have made huge investments to ensure quality yarn production.’

Subhashini Srinivasan
The S Studio

Ethnicwear market will see an upward trend if uniqueness and quality are...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Rupa Sood and Sharan Apparao
Nayaab

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

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

news category


Related Categories:
April 2017

April 2017

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

SUBSCRIBE


Browse Our Archives

GO


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



X