natgillin/translations-raw huggingface dataset:
For at sikre, at SMV-garantifaciliteten giver SMV’er yderligere adgang til finansiering, har Kommissionen udarbejdet en vejledning, »Guidance on Enhanced Access to Finance«. 
To ensure that the SMEG facility provides additional access to finance for SMEs, the Commission has developed ‘Guidance on enhanced access to finance’.
Denne vejledning skal sikre, at den finansielle formidler først kan gøre brug af porteføljegarantien, når det faktiske udlånsvolumen er større end det udlånsvolumen, som formidleren ville have opnået uden garantien. 
This aims to ensure that the financial intermediary can use the portfolio guarantee only after the actual lending volume exceeds the lending volume that the intermediary would have achieved without the guarantee.
Denne form for additionalitet er enkel at bruge og kan let integreres i garantiaftalen. 
This concept of additionality is simple to use and can be easily embedded into the guarantee agreement.
39 TEKSTBOKS 5 EKSEMPEL PÅ ET INNOVATIVT PROJEKT Iværksætteren kunne ikke stille tilstrækkelig sikkerhed til at få et normalt, kommercielt lån på 40 000 euro. 
39 BOX 5 EXAMPLE OF AN INNOVATIVE PROJECT The entrepreneur did not have sufficient collateral to secure a normal commercial loan of 40 000 euro.
I sit tidligere job som forsker havde han imidlertid opnået stor viden om eddikepro-duktion. 
However, in his previous job as a researcher he had acquired significant knowledge about the production of vinegar.
Han brugte derfor det garanterede lån til at starte en virksomhed, der producerede eddike af høj kvalitet. 
He therefore used the guaranteed loan to start up a company producing high-quality vinegar.
I produktionsprocessen blev der anvendt særligt rendyrkede bakterier, som gjorde gæringsprocessen mere stabil. 
The production process used specifically cultivated bacteria that made the fermentation process more stable.
Resultatet var en eddike med en bedre smag og et højere sukkerindhold - to egenskaber, som forbrugerne værdsætter. 
The resulting vinegar had a better taste and higher sugar content — qualities appreciated by consumers.
Virksomheden opererede på et regionalt marked og havde ingen konkurrenter, der anvendte den samme produktionsproces. Særberetning nr. 4/2011 – Revision af SMV-garantifaciliteten 
The company’s operating market was regional and there were no other competitors using the same production process. Special Report No 4/2011 – The audit of the SME Guarantee facility
Additionalitet sikrer imidlertid ikke, at den finansielle formidlers supplerende volumen også er et supplerende volumen i økonomien som helhed. 
However, additionality does not ensure that the additional volume at the level of the financial intermediary is also additional at the level of the economy.
I forbindelse med SMV-garantifaciliteten er der tale om dødvægt, hvis der stilles garantier for lån til SMV’er, som selv kan stille tilstrækkelig sikkerhed og ikke investerer i innovation. 
In the context of the SMEG facility, it is considered that deadweight occurs if guarantees are provided for loans to SMEs with sufficient collateral and without innovative investments.
Når der ydes bistand på porteføljeba-sis, er en vis dødvægt imidlertid uundgåelig. 
However, when providing assistance on a portfolio basis, a certain level of deadweight is inevitable.
Låneanalysen afslørede, at der var dødvægt i over en tredjedel af lånene i stikprøven (38 %, 69 ud af 181, jf. tabel 5). 
The loan analysis revealed deadweight in more than a third of the loans in the sample (38 %, 69 out of 181, see Table 5).
Alt andet lige ville disse låntagere have kunnet låne fra kommercielle långivere uden SMV-garantien. 
Other things being equal, these borrowers could have obtained the loans from commercial lenders without the SME guarantee.
Særlige lånevilkår 86. 
Specific lending condiTionS 86.
I hver garantiaftale mellem EIF og en finansiel formidler er der en standardbestemmelse, som angiver principperne for forbedret adgang til finansiering (jf. punkt 54) for SMV’er, som ikke kan stille tilstrækkelig sikkerhed, eller som investerer i innovation. 
Each guarantee agreement between the EIF and the financial intermediary contains a standard clause listing the principles of enhanced access to finance (see paragraph 54) for the benefit of SMEs without collateral or with innovative investments.
Det fremgår ikke altid klart, hvordan den finansielle formidler agter at målrette sit produkt mod dem. 
There is not always a clear indication as to how the financial intermediary intends to target them.
Nogle finansielle formidlere fastsatte særlige lånevilkår for at tiltrække sådanne SMV’er og minimerede dermed dødvægten (jf. tekstboks 6). 
Some financial intermediaries used specific lending conditions to attract such SMEs, thus minimising deadweight (see Box 6).
60 Ifølge bedømmeren viste resultaterne af spørgeskemaundersøgelsen, at to ud af tre selskaber ville have undladt at gennemføre projektet uden det garanterede lån, eller ville have begrænset projektet. 
60 ‘The survey results indicate that two out of three companies would not have undertaken the project without the guaranteed loan, or would have done less.
Kun ét ud af tre adspurgte selskaber svarede, at de også ville have oprettet aktiviteten eller gennemført projektet uden det garanterede lån. 
Only one out of three companies surveyed responded that they would have either set up the business or undertaken the project even without the guaranteed loan.’
40 TEKSTBOKS 6 LÅNEVILKÅR, SOM SKAL TILTRÆKKE INNOVATIVE SMV’ER ELLER SMV’ER, DER IKKE KAN STILLE TILSTRÆKKELIG SIKKERHED ο De garanterede lån kan kun gives til nystartede virksomheder og SMV’er, der har eksisteret i kort tid. ο Der fastsættes et loft for lånebeløbet. ο Der ydes ikke-monetære ydelser til SMV’erne61, så de garanterede lån ikke er billigere end ik-ke-garanterede lån. ο Der fastsættes højere garantisatser for investeringer i innovation eller i aktiviteter, som til en vis grad er nye. 61 Såsomreduceredekravtilsikkerhedsstillelse,hurtigerekreditbeslutningerogfasterentesatser. Særberetning nr. 
40 BOX 6 LENDING CONDITIONS TO ATTRACT EITHER INNOVATIVE SMEs OR SMEs WITHOUT SUFFICIENT COLLATERAL ο The guaranteed loans can be provided only to start-ups and SMEs with a short business history ο Ceiling on the loan amount ο Providing non-monetary benefits to the SMEs61 so that the guaranteed loans are not cheaper than non-guaranteed loans ο Higher guarantee rates for investments that are innovative or constitute to some extent a novelty 61 Suchasreducedcollateralrequirements,acceleratedcreditdecisionsandfixedinterestrates. Special Report No 4/2011 – The audit of the SME Guarantee facility
Mens de første tre lånevilkår automatisk vil blive foretrukket af låntagere, der ikke kan stille tilstrækkelig sikkerhed, vil det sidste vilkår sandsynligvis øge interessen hos innovative SMV’er. 
While the first three lending conditions will lead to automatic preference for borrowers that lack collateral, the last condition will probably increase the interest of innovative SMEs.
Det relative fravær af lånevilkår rettet mod innovative SMV’er kan måske forklare, at stikprøven indeholdt et lavt antal investeringer i innovation (jf. tabel 5). 
The relative absence of lending conditions geared towards innovative SMEs may explain the low number of innovative investments found in the sample (see Table 5).
EUROPÆISK MERVÆRDI 88. 
EUROPEAN ADDED VALUE 88.
Eftersom medlemsstaterne og Fællesskabet deler ansvaret for alle de områder, der er omfattet af CIP62, skal SMV-garantifaciliteten også overholde subsidiaritetsprincippet, som er fastsat i traktatens artikel 5. 
As all the fields covered by the CIP are the shared responsibility of the Member States and the Community62, the SMEG facility also has to respect the subsidiarity principle stipulated in Article 5 of the Treaty.
På de områder, der ikke hører ind under Unionens enekompetence - f.eks. SMV-garantifaciliteten - handler Unionen kun, hvis og i det omfang målene for den påtænkte handling ikke i tilstrækkelig grad kan opfyldes af medlemsstaterne, men på grund af den påtænkte handlings omfang eller virkninger bedre kan nås på EU-plan. 
EU actions not falling within the exclusive competence of the Union, such as the SMEG facility, should be undertaken only if, and in so far, as the objectives of the proposed action cannot be sufficiently achieved by the Member States, but can rather, by reason of the scale or effects of the proposed action, be better achieved at the EU level.
Der henvises også til subsidiaritetsbegrebet i en betragtning i CIP-afgørelsen63, i forslaget til CIP-afgørelsen64 og i CIP-kon-sekvensanalysen65. 
The concept of subsidiarity is reiterated in a recital preceding the CIP decision63, in the CIP proposal64 and in the CIP impact assessment65.
Kommissionens argumenter til fordel for EU-dimensionen i de finansielle instrumenter kan groft sagt reduceres til to hovedargumenter: ο EU-dimensionen sikrer sammenhæng i gennemførelsen ο Konkurrence og innovation er globale fænomener. 
In essence, the arguments used by the Commission in favour of the EU dimension of the financial instruments can be grouped under two headings: ο ensuring coherence in implementation; and ο the global nature of competition and innovation.
I de forberedende CIP-dokumenter anførte Kommissionen, at den europæiske dimension ville sikre udbredelse af god praksis for levering af finansielle instrumenter, herunder SMV-garantifaciliteten. 
In its CIP preparatory documents, the Commission argued that the European dimension would ensure diffusion of good practice in the delivery of financial instruments, including the SMEG facility.
Selv om der findes tilsvarende foranstaltninger i nogle medlemsstater, vil fællesskabsinterventionen bidrage til at gøre gennemførelsen mere konsekvent. 
Although similar measures exist in some Member States, the Community intervention will contribute to the consistency of implementation.
62 Kommissionen har afledt retsgrundlaget for CIP fra artikel 172, artikel 173, stk. 
62 The Commission derived the legal bases of the CIP from Articles 172, 173(3) and 192(1) of the Treaty on the Functioning of the European Union (consolidated version after Lisbon Treaty).
64 KOM(2005)121endelig af 6.4.2005. 
64 COM(2005)121final,6.4.2005.
65 SEK(2005) 433 af 6.4.2005. 
65 SEC(2005) 433, 6.4.2005.
41 Særberetning nr. 4/2011 – Revision af SMV-garantifaciliteten 
41 Special Report No 4/2011 – The audit of the SME Guarantee facility
Retten konstaterede flere tilfælde, hvor finansieringen fra EU-budgettet havde afgørende betydning, ikke kun fordi den delvis dækkede kredittabet, men også fordi den gjorde det muligt for formidlerne at prøve noget nyt. 
Several cases were found in which the financing from the EU budget was crucial, not only as a partial coverage of the credit losses, but also because it allowed the intermediary to try something new.
I to tilfælde bidrog SMV-garantifaciliteten til udviklingen af garanti-eller låneprodukter, som var nye for formidlerne. 
In two instances the SMEG facility helped with the development of guarantee or lending products that were new to the intermediary.
Den ene formidler var nødt til at gøre flere forsøg, før produktet opnåede tilstrækkelig anerkendelse hos de videreformidlende banker og hos kunderne. 
For one of them, multiple attempts had to be made until the product gained sufficient recognition from the on-lending banks and the clients.
Det må antages, at produktet ikke ville være blevet udviklet, hvis EIF og Kommissionen ikke gentagne gange havde samarbejdet med denne formidler. 
It can be assumed that the product would not have been developed if the EIF and the Commission had not repeatedly collaborated with that intermediary.
Desuden kan samarbejdet med EU-institutionerne hjælpe små private finansielle formidlere specielt med at opnå anerkendelse hos de videreformidlende banker og/eller deres kunder. 
Furthermore, cooperation with the EU institutions may help smaller private financial intermediaries especially to gain recognition among the on-lending banks and/or their clients.
Dette bekræftes af svarene på det spørgeskema, som Retten sendte til de finansielle formidlere. 
This is corroborated by the result of the questionnaire sent to the financial intermediaries.
6 ud af 31 CIP-formidle-re66 har udviklet et nyt låne-eller garantiprodukt, og 16 ud af 31 har i væsentlig grad ændret deres eksisterende produkter med henblik på at deltage i CIP. 
Six out of 31 CIP intermediaries66 have developed a new loan or guarantee product and 16 out of 31 have significantly modified their existing products to participate in the CIP.
SMV-garantifaciliteten gør EU-støtten mere synlig hos de finansielle formidlere. 
The SMEG facility increases the visibility of EU support among financial intermediaries.
Revisionsbesøgene viste, at SMV’ernes kendskab til EU-garantierne ikke er særlig stort. 
The audit visits showed that awareness of the EU guarantees among SMEs was not very high.
Alligevel konstaterede Retten ingen aktive forsøg på at sikre konsekvens mellem forskellige formidleres praksis. 
However, actively driven attempts to ensure consistency between the practices of different intermediaries were not observed.
EIF indsamler blot oplysninger om de finansielle formidleres praksis, men forholder sig ikke kritisk til dem. 
The EIF simply collects the information about the practices of the financial intermediaries, but does not question these practices.
Som bemærket i forbindelse med lånevilkårene (jf. punkt 86) ville en mere aktiv tilgang fra EIF’s side måske betyde, at SMV’er, som har innovative projekter eller ikke kan stille tilstrækkelig sikkerhed, i højere grad ville gøre brug af faciliteten. 
As has been shown in the case of lending conditions (see paragraph 86), a more active approach by the EIF might improve take-up of the facility by SMEs with innovative projects or insufficient collateral.
Smv‐garantifaciliteten forbeDrer De enkelte virkSomheDerS konkurrenceevne, men Det betyDer ikke, at Der tilføreS eu‐merværDi 94. 
The SMeg faciliTy increaSeS The coMpeTiTiveneSS of individual enTerpriSeS; ThiS doeS noT iMply ThaT eu added value iS delivered 94.
Aspektet EU-merværdi har direkte relation til et af de overordnede CIP-mål: »at fremme virksomhedernes, særlig SMV’ernes, konkurrenceevne«67. 
This aspect of EU added value is directly related to one of the CIP global objectives: ‘to foster the competitiveness of enterprises, in particular of SMEs’67.
I de forberedende dokumenter anførte Kommissionen, at de europæiske firmaer står over for en stadig mere global konkurrence, og at innovation er et globalt fænomen, som ikke er succesrigt og bæredygtigt i et lukket miljø. 
In the preparatory documents, the Commission argued that the competition European firms face is increasingly global and innovation is seen as a global phenomenon that is not successful and sustainable in a closed environment.
66 Formidlere,derdeltagereller har planer om at deltage i CIP. 
66 Intermediariesthat participate or plan to participate under CIP.
67 CIP-afgørelsensartikel2. 42 Særberetning nr. 
42 Special Report No 4/2011 – The audit of the SME Guarantee facility
Låneanalysen viste, at SMV-garantifaciliteten ganske rigtigt hjælper de enkelte virksomheder med at forbedre deres konkurrenceevne. 
The loan analysis showed that the SMEG facility does indeed help individual enterprises to increase their competitiveness.
Retten konstaterede, at 74 af de 181 lån (41 %) direkte blev brugt til at forbedre virksomhedernes konkur-renceevne68. 
It was found that 74 out of 181 loans (41 %) were directly used to increase the enterprise’s competitiveness68.
SMV-garantifaciliteten giver mange andre værdifulde resultater, som bidrager til at skabe et mere konkurrencepræget miljø. 
The SMEG facility delivers many other valuable results in relation to the creation of a more competitive environment.
Den gør det muligt at starte små virksomheder - primært i servicesektoren. 
It enables small start-ups — mainly in the service sector — to emerge.
Af de 181 lån i stikprøven blev 26 lån (14 %) brugt til at starte nye virksomheder, og 15 lån (8 %) blev brugt til at finansiere udvidelser af nyligt startede virksomheder69. 
Out of the 181 loans in the sample, 26 loans (14 %) were used to start a new business and 15 loans (8 %) were used to finance post-start-up expansions of the business69.
Den hjælper også til at bevare et konkurrencedygtigt marked ved at gøre det muligt for enkeltpersoner at købe en eksisterende SMV (47 lån, 26 %). 
It also helps to maintain the competitive landscape allowing individuals to become entrepreneurs by buying an existing SME (47 loans, 26 %).
Den EU-merværdi, disse resultater tilfører, er imidlertid ikke afgørende, for de samme virkninger kunne være opnået med finansiering fra de nationale budgetter. 
However, the EU added value of these results is not conclusive as the same effects could be achieved with funding from national budgets.
Kommissionen70 kommer for eksempel med tre forslag til, hvordan en EU-politik kan påvirke konkurrenceevnen på EU-plan71. 
For instance, the Commission70 gives three suggestions on how an EU policy may impact competitiveness at the EU level71.
EU-politikken kan: ο påvirke europæiske firmaers konkurrenceevne i forhold til deres ikke-europæiske rivaler ο stimulere grænseoverskridende investeringer, herunder flytning af økonomiske aktiviteter ο være nødvendig for at korrigere uønskede resultater af mar-kedsprocesser på de europæiske markeder. 
The EU policy might: ο have an impact on the competitive position of EU firms in comparison with their non-EU rivals; ο stimulate cross-border investment flows, including relocation of economic activity; or ο be necessary to correct undesirable outcomes of market processes in European markets.
Ingen af disse virkninger blev observeret under revisionen. 
None of these effects were observed during the audit.
Låneanalysen bekræftede, at de fleste af SMV’erne opererer på lokale, regionale eller nationale markeder. 
The loan analysis confirmed that most of the SMEs are operating in local, regional or national markets.
19 af de 181 lån (10 %) blev ydet til SMV’er, der havde en vis mængde grænseoverskridende aktiviteter, og 13 lån (7 %) blev ydet til investeringer med væsentlige grænseoverskridende aspekter72. 
Nineteen out of 181 loans (10 %) were provided to SMEs that had some cross-border activities and 13 loans (7 %) were used for investments that had a significant cross-border element72.
Den lave forekomst af grænseoverskridende aktiviteter er ikke overraskende i betragtning af, hvilke typer SMV’er stikprøven omfattede (jf. oversigten i figur 5): 17 restauranter, 8 taxivognmænd, 41 små detailforretninger (bager, slagter, aviskiosk, supermarked) og 17 håndværkere (tømrer, elektri-ker, murer, taglægger). 
The scarcity of cross-border activities is not surprising given the types of businesses of the SMEs in the sample (for an overview, see Figure 5): 17 restaurants, eight taxi drivers, 41 small retail shops (bakery, butcher, newspaper shop or supermarket) or 17 craftsmen (car-penter, electrician, mason or roofer).
I forbindelse med sådanne låntagere, som normalt driver virksomhed lokalt, er der ikke tilstrækkelig dokumentation for nødvendigheden af en EU-intervention. 
Given these examples of borrowers whose businesses are usually local, the need for EU intervention is not sufficiently demonstrated.
68 En virksomheds konkurrenceevne ansås for at være forbedret, hvis forretningsplanen indeholdt oplysninger om, at investeringen ville: • øge virksomhedens kapacitet til produktion af varer eller tjenesteydelser eller gøre den mere effektiv • øge virksomhedens markedsandel • øge virksomhedens eksport • forbedre personalets præstationer/uddannelse • føre til en mere produktiv anvendelse af informationsteknologi eller • forbedre markedsføringen af virksomhedens produkter eller tjenesteydelser. 
68 The enterprise’s competitiveness was deemed to have increased if the business plan included information that the investment would either: • increase the enterprise’s production capacity of goods or services; or make it more efficient; • increase its market share; • increase its exports; • increase the performance/ training of its staff; • lead to more productive use of information technology; or • improve the marketing of its products or services.
Nystartede virksomheder blev behandlet særskilt og ansås altid for at styrke et konkurrencedygtigt marked. 
Start-ups were considered separately as always increasing the competitive landscape.
69 Hermed menes udvidelser af virksomheder i de første tre år efter deres oprettelse. 
69 Poststart-upexpansion means an expansion of the business within three years after the start-up.
70 Kommissionens arbejdsdokument »Impact Assessment: Next Steps - In support of competitiveness and sustainable development« (SEK(2004) 1377). 
70 Commission Staff Working Paper ‘Impact assessment: Next steps — In support of competitiveness and sustainable development’, SEC(2004) 1377.
71 Også omtalt i SEK(2005) 791. 
71 AlsomentionedinSEC(2005) 791.
72 De grænseoverskridende aspekter ansås for at være væsentlige, hvis formålet med investeringen var at øge produktionen i udlandet, at komme ind på udenlandske markeder eller at skabe nye forretningsforbindelser til udenlandske virksomheder (f.eks. leverandører). 
72 The cross-border element was deemed significant if the aim of the investment was to increase production abroad, expand into markets abroad or create new business relations with foreign counterparts (e.g. suppliers).
43 Særberetning nr. 4/2011 – Revision af SMV-garantifaciliteten 
43 Special Report No 4/2011 – The audit of the SME Guarantee facility
Faktisk rækker de enkelte garantiaftaler ikke uden for de nationale grænser. 
Indeed, the scale of the individual guarantee deals does not go beyond national borders.
I praksis fungerer SMV-garantifaciliteten som et sæt nationale garantiordninger, idet der er væsentlige forskelle mellem de nationale gældsmarkeder73. 
In essence the SMEG facility operates as a set of national guarantee schemes, because there are significant differences between the national debt markets73.
Disse forskelle skyldes såvel kulturelle som lovgivningsmæssige forhold, og de er så væsentlige, at gældsmarkederne kan betragtes som rent nationale. 
These differences are caused by cultural as well as legal constraints and are so significant that the debt markets can be considered to be purely national.
73 Det bemærkes f.eks. også af ECB i artiklen »The financing of Small and Medium-Sized Enterprises in the Euro area«, ECB Monthly Bulletin, august 2007, s. 
73 Also noted for instance by the ECB, ‘The financing of small and medium-sized enterprises in the Euro area’, ECB Monthly Bulletin, August 2007, p.
44 FIGUR 5 LÅNEANALYSE ‐ VIRKSOMHEDSTYPER 19% 5% 12% Kilde: Den Europæiske Revisionsret. 
44 FIGURE 5 LOAN ANALYSIS — TYPES OF BUSINESSES 19% 5% 12% Source: European Court of Auditors.
26% Fremstillingsvirksomhed Detailhandel Hoteller, restauranter, catering Selvstændige håndværkere og byggefirmaer Taxi og transport Andet 24% 14% Særberetning nr. 4/2011 – Revision af SMV-garantifaciliteten 
26% Manufacturing Retail Hotels, Restaurants, Catering Individual Craftsmen & Construction companies Taxi & Transportation Other 24% 14% Special Report No 4/2011 – The audit of the SME Guarantee facility
45 KONKLUSIONER OG ANBEFALINGER Smv‐garantifacilitetenS uDformning 99. 
45 CONCLUSIONS AND RECOMMENDATIONS deSign of The SMeg faciliTy 99.
Selv om de forberedende CIP-dokumenter ikke angiver en eksplicit interventionslogik for SMV-garantifaciliteten, kan der udledes en implicit interventionslogik af de forberedende dokumenter vedrørende CIP-afgørelsen. 
Although no explicit intervention logic was provided in the CIP preparatory documents for the SMEG facility, an implicit intervention logic can be found in the different preparatory documents of the CIP Decision.
Der er imidlertid ingen begrebsmæssig forbindelse mellem problemstillingen og de forventede resultater og virkninger som beskrevet før interventionens start. 
However, there is no conceptual link between the problem at stake and the expected results and impacts as presented before the start of the intervention.