A new business-development financing programme for micro and small companies has been launched by the Budapest Foundation for Enterprise Promotion (BVK) and AKKORD VF Venture Finance at a press meeting hosted by Erzsйbet Kцnczцl, member of the board of BVK. Dr Kцnczцl also serves as development director with the Budapest University of Economics and Public Administration.
In 1999 BVK made a host of proposals to the government and launched the first syndicated micro and small business loan scheme, which drew commercial banking funds into high-risk small business lending. BVK was established in 1993 by the Budapest Municipality to build the institutional framework of the capital city’s enterprise development programme and ensure the proper use of EU and government funds.
