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Kóka on micro-credits

According to the Economy Minister János Kóka, the micro-credit scheme must be made more popular and more easily accessible as 80% of Hungarian businesses are managed without a loan, while in developed countries this rate is only 15%-20%.

After the micro-credit scheme is transformed, the smallest businesses will have a chance to get a credit, thus in the next seven years EU and private sources will provide sources for some 27,000 micro businesses, Kóka said at the conference on the future of micro-crediting in Hungary adding that there will be an increasing number of micro-credit schemes, collateral security requirements will be relaxed and credits will be more easily accessible. Within the framework of the EU's 'Jeremie' program created especially for SMEs, Ft 175 billion ($966 million) has been allocated for the next seven years and Ft 35 billion ($193 million) can be appropriated for micro businesses out of this amount. (Gazdasági Rádió, Magyar Hírlap)