Krajowy Fundusz Kapitalowy (KFK), the country's capital fund should help small- and medium-sized enterprises (SMEs) to obtain funds for investments. So far, SMEs have often been denied loans due to lack of creditworthiness.
The Rzeczpospolita daily newspaper has looked into the draft bill that sets up KFK.
The Ministry of Economy proposed the creation the KFK fund to grant credits to different capital funds (e.g. venture capital) on condition that the allotted money is used to provide financial assistance to SMEs.
Under the draft bill, firms will have to meet three conditions to receive funds from KFK: first, they will have to make more than half of their income in Poland; second they won't offer financial services, trade in arms, tobacco, spirits and real estate and third, their activity will have to contribute to regional development and reduction of unemployment.
KFK is to be financed form the state budget and EU funds.
