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Jeremie helps small and medium sized companies receive loans

Hungary's government has earmarked Ft 175 billion (about €700 million) for a new program to help small and medium sized companies take out loans in 2007-2013.

Initiated by the European Union, the introduction of the Jeremie (Joint European Resources for Micro to Medium Enterprises) program in Hungary will affect several tens of thousand businesses. In the first two years of operation, Jeremie will include three financial schemes to help small and medium sized businesses borrow money and further schemes may be introduced later. State secretary of the economy ministry Géza Egyed said recently that the Jeremie program would be launched by September this year. (,