Investment loans for Polish SMEs from new EIB-backed guarantee fund to launch next year, says dev. funds minister
Poland, together with the European Investment Bank (EIB), is creating a new guarantee fund to support investment loans for Polish SMEs aiming for bold growth. The fund will provide PLN 670 million (EUR 140 mln) in guarantees, enabling up to PLN 10 billion (EUR 2.1 bln) in loans Poland's development funds and regional policy minister Katarzyna Pelczynska-Nalecz told PAP Biznes.
"Polish banks unfortunately have a mechanism where they only give loans on a sure basis, and the effect is a dramatic lack of investment capital for companies that want to pursue bold growth," Pelczynska-Nalecz said.
"In response to this problem, we are bringing a solution. We are creating a guarantee fund for bold investment loans that Polish businesses normally would not get. Here, the state contributes by purchasing the guarantee," she added.
She explained that the fund is being created jointly with the EIB, which will have intermediaries in Poland, including Poland's state development bank BGK as a development bank.
Pelczynska-Nalecz noted the loans will be attractive in terms of interest rates and confirmed they will start next year.
Regarding project settlement periods funded by the national recovery plan KPO, the minister said there is 'room' to extend beyond the currently signalled three months.
"The space for interpretation of the regulations is even greater than what is on the table. That is already a lot because we started from a complete 'no.; The Commission is debating," she noted.
However, she does not expect a fundamental extension of the KPO timeframe.
Earlier, the ministry announced Poland has preliminary approval to extend investment settlements under KPO by at least three months.
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