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Gov’t raises interest subsidy for SME credit linked to EU-supported investments

The government has raised the interest subsidy on Széchenyi Investment Credit, a co-financing or pre-financing loan for SMEs who have won European Union investment grants, from 2% to 5% from May 1, the National Development Ministry and KAVOSz, which runs the credit scheme, said on Friday. KAVOSz CEO László Krisán said the subsidy would allow businesses to borrow at annual rates of about 4.8%.