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Subsidies for credit interest for SMEs, RON 24 mn in Q3

The sum allocated to subsidize the interest by the Mihail Kogalniceanu programme for small and medium enterprises (SMEs) amounts to 24 million lei (5.66 million euros) in the third quarter of 2011, said president of the Agency for the Implementation of Projects and Programmes for SMEs Cristian Haiduc on Friday.

According to him, the programme includes major facilities for the SMEs, namely a 70 percent subsidy of the interest, but not exceeding 6.5 percent, and an 80 percent guarantee, but not larger than 100,000 lei. The maximum level of the line of credit to be received is 125,000 lei.

'There were 24 million lei allocated to subsidize the interest for this quarter of the year, for the 70 percent interest, but not more than 6.5 percent, and as regards the guarantees, there are 400 million lei allocated through the National Fund of Credit Guarantee, in this quarter only,' Cristian Haiduc told the conference where the programme was launched.

He said there are major sums over the years to come, namely 70 million for subsidies for interests in 2012, 71 million in 2013, as well as total guarantees of 2.8 billion lei over these couple of years.

'We believe that the SMEs will be rewarded for their activity during the crisis by the facilities included in this programme, as they help the domestic economy to restart. I think this programme is what the Government intends for the SMEs to help and support in their struggle to overcome this period, because the SMEs are the most flexible, as they adapt during the crisis, some of them can implement innovative activities and I believe this subsidy is vital as the interest rate in Romania is at a different level than that in the European Union,' Haiduc added.

Cristian Haiduc took part in the press conference on Friday for the launch of the 'Mihail Kogalniceanu Programme for Small and Medium Enterprises.'

The programme aims to grant the SMEs an easier access to guarantee and credit lines, by providing a line of credit with subsidized interest and, if need be, partially guaranteed by the state.

Along with facilitating the access to funding for the SMEs, the programme also aims to maintain the activity and jobs the SMEs have at the moment and to support their economic competitiveness. This programme also intends to 'reduce the arrears due to the Government by the SMEs sector and the reduction of the cash money stock which is wandering through the economy lacking a tax system.'

Prime Minister Emil Boc was also present at the conference, together with president of the Agency for the Implementation of Projects and Programmes for SMEs Cristian Haiduc, president of the National Fund of Credit Guarantee for SMEs Aurel Saramet and representatives of the partner credit institutions.

Sursa: http://www.actmedia.eu

Tags: haiduc percent million programme interest credit