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Bank Gospodarstwa KrajowegoSupport fund for Polish flood-affected businesses; PLN 100 million in phase I
Polish entrepreneurs affected by the floods will be able to apply for preferential long-term financing from December 10 for, among other things, rebuilding their businesses or relocating them within the region, Poland's Ministry of Development Funds and Regional Policy (MFiPR) said. In the first phase, PLN 100 million (EUR 23.3 mln) is to be available in the support fund.
"From December 10, 2024, entrepreneurs affected by the floods that hit the regions of south-western Poland will be able to apply for support. From a special fund set up by the Ministry of Development Funds and Regional Policy in cooperation with Poland's state development bank BGK, PLN 100 million will be available to entrepreneurs in the first stage," wrote the funds ministry.
It added that the fund will support entrepreneurs in rebuilding and securing business in the Lower Silesian, Lubuskie, Opole and Silesian regions.
"The support is preferential, long-term financing (repayment period of up to 10 years, 12-month grace period in repayment of capital and interest) with the possibility of redemption of up to 90 percent of the debt," the ministry indicated.
It added that the amount of financing is determined individually for each entrepreneur, but cannot exceed PLN 5 million.
As the MFiPR explained, the support fund is financed from repayments of previous loans granted during the COVID-19 pandemic.
jz/ han/