The EU’s European Recovery Strategy with its Recovery Fund and the adapted Multiannual Financial is a bold step, said SMEunited President Alban Maggiar in a first reaction to last week’s announcement from European Commission President Ursula von der Leyen.
He said it is a strong sign of solidarity combined with the will and the instruments to strengthen and its Member States most hit by the crisis and the European Union as a whole.
SMEunited said it welcomes that SMEs are at the heart of the strategy and agrees that the recovery should be used to strengthen Europe’s economic and political competitiveness and has to contribute to make European SMEs more digital and greener.
“The European Commission is right to propose a bold answer to the current crisis, which has deeply affected SMEs in Europe as many of them lost more than 80% of turnover during the last months”, states SMEunited President Alban Maggiar.
The proposal shows the willingness of the European Union to steer Europe out of the Crisis by acting together in solidarity and joint responsibility.
“Investing in future competitiveness and economic strengths, in qualification and innovation, is an appropriate reply to Europe’s challenges and will contribute to achieve the twin transition”, agreed Maggiar with the general orientation of the strategy.
Therefore, the President suggests the current SME Strategy becomes part of the Recovery Strategy. This will in turn help SMEs to tackle the current challenges and support them in the transition towards a digital and green economy.
“Without having analysed all details, several programmes suggested as part of the European Recovery Fund have the substance to provide SMEs with the needed instruments”, argues Maggiar and refers to the new Solvency Instrument.
The Recovery Fund also unlocks additional resources for the Rural Development Fund and Cohesion Policy.