A new EU accession country investment fund (Phare) launched on April 30, is ready to grant EUR 58 million to around 4,600 domestic small- to medium-sized enterprises (SMEs).
The first round of these grants from EU funds are to be processed in July this year. For the first time the rules for those wishing to receive this cash will be similar to those for the criteria for awarding structural funds.
The money from the Phare fund can be used by SMEs for investment projects and for financing advisory and consulting services.
This year, companies will be eligible to receive funding for between 30% and 50% of their needs, compared to a maximum of 25% under previous programmes. In another change, companies will no longer have to prove they have received banking credit.
Source: Rzeczpospolita
