Juncker Plan backs agreement to provides €100 million in loans for small and medium-sized enterprises in Finland
The European Investment Bank (EIB) has concluded an agreement with Tesi, a state-owned investment company, to provide innovative small and medium-sized enterprises in Finland with access to €100 million worth of loans. The agreement was made possible by the support of the Juncker Plan’s European Fund for Strategic Investments (EFSI). As of July 2018, the Juncker Plan is now set to trigger €7.6 billion in investments in Finland and €335 billion across the EU. Vice-President Jyrki Katainen, responsible for Jobs, Growth, Investment and Competitiveness, said: “The Investment Plan’s European Fund for Strategic Investments was designed to facilitate small and medium-sized enterprises gain access to finance they need to expand, innovate and create jobs. So far, around 700,000 small businesses across Europe are expected to benefit. I am delighted that, with today’s transaction, the Investment Plan will allow Finnish firms to benefit from €100 million in financing opportunities.” A full press release can be found here.
EU releases €2 million in humanitarian assistance to the Philippines
The European Commission has announced €2 million in humanitarian aid funding for the vulnerable communities living in the Philippines’ violence-plagued province of Mindanao. “Hundreds of thousands have been forced to flee their homes due to continued conflict in Mindanao. They left everything behind and are struggling to sustain their day-to-day lives,” said Commissioner for Humanitarian Aid and Crisis Management Christos Stylianides. “This assistance underlines the EU’s solidarity with the people of the Philippines. It will ensure that the most vulnerable have sufficient means to get through these difficult times.” The funding will provide displaced families and host communities affected by the conflict with food assistance, water, sanitation and hygiene, emergency education for children and protection against the pervasive violence. According to the latest data available, at least 500 000 people are currently in need of humanitarian assistance in the region, including more than 270 000 displaced people and some 100 000 out-of-school children. Since 1996, the EU has allocated over €117 million in emergency assistance to victims of conflict and natural disasters in the Philippines
Mergers: Commission clears the acquisition of Zeamarine by Maritime Holdings and Zeaborn
The European Commission has approved, under the EU Merger Regulation, the acquisition of joint control over Zeamarine GmbH of Germany by Maritime Holdings (Delaware), LLC of the US and Zeaborn Chartering Management GmbH (“Zeaborn”) of Germany. Zeamarine will be active in general cargo shipping on multi-purpose vessels. Maritime Holdings, controlled by New Mountain Capital of the US, is a provider of ocean transportation services. Zeaborn is an ocean shipping group. The Commission concluded that the proposed acquisition would raise no competition concerns, given the limited impact it would have on the market. The transaction was examined under the simplified merger review procedure. More information is available on the Commission’s competition website, in the public case register under the case number M.8992.