20.3 C
New York
Monday, October 26, 2020
Home BUSINESS Statement by prof. Teresa Czerwińska, vice-president of the EIB, on Poland's joining...

Statement by prof. Teresa Czerwińska, vice-president of the EIB, on Poland’s joining the pan-European guarantee fund


Today’s decision of the Polish government to join the pan-European guarantee fund (EGF) is very good news for the Polish economy,” said Prof. Teresa Czerwińska, vice-president of the EIB, who oversees operations in Poland. “The guarantee fund, which has just started its operational activity, has been created in a spirit of solidarity by the Member States of the European Union and the European Investment Bank. It is an important element in supporting Polish entities, especially small and medium-sized enterprises (SMEs), affected by the COVID-19 pandemic. The € 25 billion guarantee fund will provide financing to European companies that are viable in the long term, but struggling with the difficulties caused by the current pandemic. At least 65% of the funding is dedicated to SMEs in Europe. As part of mobilizing funds in Poland, the EIB will cooperate with domestic financial institutions, including the national promotional bank Bank Gospodarstwa Krajowego. The EGF is yet another initiative in which Member States and EU institutions join forces in creating new instruments of aid and support for the economy and society. It is worth reminding that since the beginning of the pandemic, the EIB has provided € 24.9 billion for projects related to the fight against COVID around the world.

Source link


Please enter your comment!
Please enter your name here

Most Popular

Pools and privacy: Why day-use hotels offer respite from home office distractions

As the hotel industry continues to face staggering losses due to COVID-19, a handful of properties in Vancouver are pivoting the business — and joining others around...

Nigeria: Press Institute Condemns Attack On National Pilot

The International Press Institute has condemned an attack on National Pilot newspaper in Ilorin. "Just when we thought the attack by protesters on media...

Giro d’Italia: Tao Geoghegan Hart wins first Grand Tour

Tao Geoghegan Hart - pronounced "Tayo Gay-gan Hart" - abandoned the 2019 Giro after a crash on stage 13Tao Geoghegan Hart became only...

The EIB joins forces with ICO and PSA Finance to support Spanish SMEs and mid-caps affected by the COVID-19 crisis

©ShutterstockThe European Investment Bank (EIB) is joining forces with the Instituto de Crédito Oficial (ICO) and PSA Financial Services Spain, E.F.C., S.A....

Recent Comments