The credit went to 16,675 businesses. Contracts signed under phase II totaled HUF 693.6 bln by the end of April.
Including the first phase of the scheme, in June-September 2013, contracts signed under the FGS came to almost HUF 1,400 bln, the central bank said.
Under the FGS, The MNB provides zero-interest refinancing to banks which they can lend to SMEs at an APR not exceeding 2.5%.
The central bank launched phase II of the scheme in October 2013 for an initial volume of HUF 500 bln which it raised to HUF 1,000 bln in September 2014.
Producing journalism that is worthy of the name is a costly business. For over 30 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.
