EU to earmark EUR 70 million over the next 10 years

In the years 2004-2006, the EU intends to earmark EUR 11.4 billion for the development of small and medium companies. A further EUR 60 billion is envisaged for 2007-2013, says the head of the Business Institute Ilona Olek, at a EU conference for Small and Medium Companies on Friday. In her opinion, Polish companies have to cope with many barriers, which discourage them from using the EU financial resources. "There are still few institutions which could provide back-up on the issue," added Olek. "Another difficulty is posed by the inability to prepare financial plans for particular projects as well as poor skills at managing these projects. We intend to set up a team whose task will be informing the society how to use the EU subsidies effectively," she added. (www.onet.pl) A.Z