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GOVT TO LAUNCH NEW EXPORT SUPPORT AND INVESTMENT PROMOTION SCHEME

 

Hungary’s government will introduce a new export support and investment promotion programme, the foreign affairs and trade minister said after a cabinet meeting. The scheme will see Hungary’s Eximbank launch three new products for businesses, Péter Szijjártó told MTI.
Preferential loans will be available to companies for investments. The bank will also offer working capital loans, Szijjártó said, adding that the interest rate on the loan will be 0.1% for small businesses that apply for it within a year. In addition, Eximbank will launch a guarantee and insurance scheme that will enable businesses to maintain their commercial bank loans and shield them from the negative effects of late payments in export markets.
Also, the European Union has allowed governments to provide up to 800,000 euros in liquidity to businesses hit by the coronavirus crisis, the minister said. The government has therefore approved a scheme to support the investments of exporting companies operating in Hungary with grants worth up to 800,000 euros, he said, adding that the grant may cover up to 50% of the total investment value.