Agreement under programme COSME to support Polish SMEs

The Polish national development bank has concluded an agreement with the European Investment Fund to release additional funds under the COSME programme to support Polish small and medium-sized enterprises.

Bank Gospodarstwa Krajowego (BGK) has signed an agreement with the European Investment Fund (EIF) for additional resources to support Polish small and medium-sized enterprises (SMEs). Thanks to this agreement under the European Union’s SME programme COSME, the supported SME loan volume is expected to reach a total of PLN 10.5 billion (equivalent to almost €2.5 billion). The financial envelope available to SMEs within the scheme has already increased tenfold since its establishment: from the original PLN 800 million to PLN 8.4 billion.

This increase of the portfolio under the COSME programme results from the agreement signed by BGK and EIF that raised the available guarantee limit to PLN 8.4 billion. The agreement is backed by the European Fund for Strategic Investments (EFSI), the financial pillar of the Investment Plan for Europe.