Small and medium enterprises pumped more than €83.5 million into the economy over the past two years after receiving loans through the Jeremie financial engineering tool, Deputy Prime Minister Louis Grech said today.

Announcing an €11 million increase in the fund, Mr Grech said 602 loans had been extended to 533 enterprises in connection with investment projects.

Another 100 firms are expected to benefit from the increase, the deal for which was signed this morning by Bank of Valletta and the European Investment Fund.

Parliamentary Secretary Ian Borg said that a minimum of 100 enterprises will potentially be able to benefit from loans at beneficial rates.

Mr Grech and Dr Borg were speaking at a conference coordinated by the Ministry for European Affairs in collaboration with the Planning and Priorities Coordination Division on  opportunities for SMEs during the next Programming Period 2014-2020.

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