Mandelson's [Pounds]20bn Loans Deal for Struggling Firms
Murphy, Joe, The Evening Standard (London, England)
A MAJOR increase in taxpayer-backed lending to firms is being unveiled tomorrow by Lord Mandelson.
The Business Secretary has pulled together a complex funding package to underwrite up to [pounds]20 billion of lending to struggling companies.
It could release billions of pounds through high-street banks to companies suffering from the credit crunch.
Previous plans included an extra billion pounds of underwritten loans for small firms and exporters only. The Mandelson package involves creative use of about [pounds]4billion of European Union money to expand the potential benefits and also changes the rules so that medium-sized firms can benefit.
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Publication information: Article title: Mandelson's [Pounds]20bn Loans Deal for Struggling Firms. Contributors: Murphy, Joe - Author. Newspaper title: The Evening Standard (London, England). Publication date: January 13, 2009. Page number: 6. © Not available. Provided by ProQuest LLC. All Rights Reserved.
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