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Sarkozy annouces 2B euros aid for small, medium enterprises

(Xinhua)
Updated: 2009-10-06 10:25

PARIS: President Nicolas Sarkozy Monday announced 2 billion euros (about $2.9 billion) aid for France's small- and medium-sized enterprises, according to French daily Le Figaro.

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"We are going to put two billion euros for the disposition of middle and small businesses to enforce their equity capital," Sarkozy said in front of 2,200 small and medium businesses' leaders.

France's Strategic Investment Fund will provide the first batch of 1 billion euros while the state bank Oseo will take responsibility for the other 1 billion euros, Sarkozy said.

The enterprises which apply for the government aid have to accept an evaluation of their business, such as equity capital, Sarkozy added.

According to the government's 2010 budget plan, the small businesses in France will benefit from stimulus packages including tax cuts and exemption.