The Ministry of Economy and Digitalisation is promoting amendments to the Law on Small and Medium-sized Enterprises. Essentially, these amendments bring the national regulatory framework into line with EU standards. The term ‘export credit’ refers to government support to cover transactions related to the export of goods and/or services.
According to the document, loans are categorised as short-term (up to 2 years) or medium- and long-term (at least 2 years). Support will be provided through financial instruments that facilitate the financing of export transactions, as well as through guarantees, insurance, direct financing or refinancing, interest rate support, or a combination of these forms.
The Government will designate the Organisation for the Development of Entrepreneurship (ODA) and other institutions as responsible for implementing the mechanisms for official support for export credits, their allocation and reporting to the founding bodies.
For export credit operations with a maturity of two years or more, the forms, conditions and procedures for the provision of official support will be established by the Government.
In addition, it is proposed to expand the range of guarantee products for SMEs. A special fund will be established within the ODA to issue financial guarantees against obligations undertaken by enterprises towards a bank and/or a non-bank credit institution.
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