Government to discuss program to boost exports by as much as $300 million

The Cabinet will discuss today a bill for subsidizing interest on fixed-rate export loans as a means of helping the ailing exports-market to grow by as much as $300 million. Previously, only 3% of exports had been financed with loans and deputy Finance Minister Krzysztof Ners hopes the new law will help change this situation. "The law will make it possible to offer mid- and long-term export loans on a wide scale. The lack of risk of additional costs associated with an increase in interest loans will provide substantial support for exporters," said Ners. The subsidy program will be carried out through the state-owned Bank Gospodarstwa Krajowego (BGK), to which exporters' banks will apply for subsidies on their behalf. (Puls Biznesu, page 5) T.J.