The Government has decided to raise the credit guarantee ceiling for SMEs by 5 billion lei, Prime Minister Ludovic Orban announced on Thursday.
"We have decided, through emergency ordinance, to raise the credit guarantee ceiling for SMEs through the Guarantee Fund. Raising the ceiling could be done in a first phase by 5 billion (lei - e.n.). We are prepared to raise this ceiling by another 5 billion if it's necessary and, furthermore, if it is necessary, to go up to a raise by 15 billion of the guarantee ceiling. Practically, we are guaranteeing credits for investments and for ensuring the working capital. The interest rate for both products is subsidized 100 pct. Furthermore, the guarantee works for 90 pct of credits in case of credits worth up to 1 million and the guarantee will be 50 pct for credits over 1 million," Orban stated.
The government had a meeting on Wednesday afternoon. The meeting, taking place in videoconference system, took more than 8 hours.
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