On 16 December, the Cabinet of Ministers (CM) approved amendments to improve the terms of the portfolio guarantee programme, ensuring greater access to finance for economic operators.
The amendments to Cabinet Regulation No. 537 of 5 September 2017, “Regulations on Portfolio Guarantees for Promoting the Lending of Small (Micro), Small and Medium-Sized Economic Operators – Legal Persons”, provide support to the agricultural sector and expand the range of financial instruments available to entrepreneurs.
The amendments provide for the inclusion of bank guarantees as an eligible type of financial service, thereby broadening the spectrum of supported instruments and improving companies’ access to financing.
In addition, the amendments increase the maximum amount of guaranteed financial services from EUR 0.5 million to EUR 2 million. At the same time, the terms for loans for working capital financing and for bank guarantees have been clarified and aligned with the conditions of the programme and the individual guarantee programme.
The introduced changes will promote more flexible and business-oriented access to financing, including for the development of agriculture and regional entrepreneurship.