§ Mr. Alexanderasked the Secretary of State for Industry if he will list in the Official Report what European Economic Community grants or loan schemes are available to British small firms.
§ Mr. MacGregorProvided that they meet the relevant criteria, British small firms can benefit from EEC grants or loan schemes as follows: European Investment Bank and European Coal and Steel Community funds are available through the agency of the Industrial and Commercial Finance Corporation. European Investment Bank funds are also available through an agency held jointly by the Department of Industry, the Scottish Office, the Welsh Office and the Department of Commerce for Northern Ireland.
On 9 February 1981 I signed a new exchange risk cover agreement with ICFC for £5 million of EIB loan funds, and I have today signed a further agreement for foreign 293W exchange cover as part of a new £20 million ECSC loan facility with ICFC. Both of these agreements provide for a new appraisal procedure to ensure speedy decisions for small firms.
The European social fund provides assistance principally for schemes of training, retraining and resettlement for unemployed workers and those threatened with unemployment. No part of the fund is reserved specifically for small firms, but grants can be made for schemes involving small firms under all the fund's various areas of intervention.
Some funds will be available under the non-quota part of the European regional development fund to assist the development of small firms in certain areas affected by rundowns in the steel and shipbuilding industries.