BGK: PLN 800 mln for SMEs

As much as PLN 800 million will be earmarked for credit guarantees for Polish small and medium enterprises (SMEs) within the framework of the EU program COSME, state-controlled lender BGK informed the media. "BGK was the first European institution that managed to sign an agreement regarding credit guarantees for SMEs under the COSME initiative," Dariusz Kacprzyk told the Polish Press Agency (PAP). COSME is the EU programme for the Competitiveness of Enterprises and Small and Medium-sized Enterprises running from 2014 - 2020 with a planned budget of EUR 2.3 billion. The initiative aims to make it easier for SMEs to access finance in all phases of their lifecycle – creation, expansion, or business transfer, the European Commission web site read. It helps businesses to access markets in the EU and beyond.