Banks disburse businesses HUF 700 bln under ʼFGS Go!ʼ to date
Photo by Jessica Fejos
Banks disbursed about HUF 700 billion to some 10,000 small and medium-size businesses under the National Bank of Hungary (MNB)’s new ʼFunding for Growth Scheme Go!ʼ (FGS Go!) program launched late April by October 4, MNB deputy governor Mihály Patai announced, according to a report by state news wire MTI.
Image by Jessica Fejos
Under FGS Go!, the MNB made HUF 1.5 trillion available to micro-, small and medium-sized businesses through credit institutions and financial businesses at a fixed interest rate of a maximum 2.5% in the spring. Credit is available on a wider scale than before in the new version of the scheme, helping SMEs to overcome the economic effects of the coronavirus. The MNB further eased the conditions in July.
The loans granted under FGS Go! have brought total credit disbursed under the FGS since its launch in 2013 to HUF 4tln, helping 50,000 businesses, Patai said.
Avg Hourly Pay Rate for Blue-collar Workers Climbs 16% in Q1
Bulgaria's Household Income, Spending Rise 20% in 2023
Job Fair and Career Prep at Corvinus Starts Tomorrow
Spago Budapest Offering Unique Sunday Brunch Experience
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.
