MNB: First phase of FGS generates additional investment of HUF 120 bln
Not sharp!
The first phase of the National Bank of Hungary’s (MNB) Funding for Growth Scheme (FGS) generated an additional investment of HUF 120 bln by SMEs, according to a report by the central bank yesterday.
The MNB estimates that the FGS increased the average investment rate of SMEs that participated in the program by 7 percentage points.
Among enterprises employing fewer than 10 workers, the investment rate grew by 17 percentage points. Companies with 10-49 workers registered an increase of 6 percentage points. Companies larger than this had an increase of less than 5 percentage points.
SMEs applying specifically for investment loans had a 17 percentage point increase in their investment rate on average.
Under the FGS, The MNB provides zero-interest refinancing to banks which they can lend to SMEs at an APR not exceeding 2.5%.
During the first phase of the FGS between June-September 2013 contracts signed under the program came to almost HUF 1,400 bln, the central bank said earlier.
Report Points to Increased Risk on Commercial Real Estate Ma...
Chinese President to Visit Budapest in May
Richter Shareholders Approve HUF 423/Share Dividend
Liz & Chain Rooftop Bar Debuts Sustainable Cocktails
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.
