A £29 million subsidised loan scheme for small businesses in the North and Border counties' has been announced as part of the, EU special support programme for peace and reconciliation.
The announcement was made in Belfast at a function attended, by the Minister of State at the. Tanaiste's Office, Ms Eithne Fitzgerald the European Commissioner for Regional Affairs, Dr Monika Wulf Mathies and the, North's Economy Minister, Baroness Denton.
The scheme is directed at businesses with fewer than 50 workers. Priority will be given to projects which create or safeguard jobs develop new markets promote tourism or are based in deprived areas.
It is hoped an interest subsidy of 4 per cent a year over five years for approved capital investment projects will contribute to economic development.
Baroness Denton said "This is another welcome example of the friendship offered by Europe to Northern Ireland and the Border counties. Small firms have a very significant role to play in the economic future of the province."
Ms Fitzgerald said "The Border counties have many structural problems in common with Northern Ireland. It is our intention that this scheme will contribute to the progressive easing of these problems by mobilising the energy and initiative of small businesses."
Meanwhile, 19 community groups are to receive £750,000 in the first EU peace and reconciliation grant for the North. A total of £90,000 was awarded to Local Initiatives in Needy Communities for work involving job skills for former prisoners. The bereavement counselling service CRUSE and Ballybean Community Forum will receive £84,000 each. The Women's Information Group was awarded £78,000 and Ti Chulainn the south Armagh regeneration scheme £75,000.
A Sinn Fein councillor, Ms Annie Armstrong, said "This is especially good news for besieged community groups in Belfast after the recent cutback in funding from the British government."