Assistance from Europe: HAMAG-BICRO has not received new capital at its disposal, it is about the existing framework

The European Commission has adopted a document titled Temporary Framework to enable member states to utilize the full flexibility provided by state aid rules to assist the economy in the wake of the coronavirus pandemic. Additionally, the European Commission has adopted the HAMAG-BICRO Support Program developed based on the Temporary Framework.

Based on the above, HAMAG-BICRO, as explained by the institution, has not received additional funds at its disposal, but it is about the existing financial framework of THREE billion kuna, which HAMAG-BICRO has been implementing since March of this year through measures to assist micro, small, and medium-sized enterprises affected by the current economic crisis.

– Specifically, the Temporary Framework allows member states to combine support measures from the Temporary Framework with de minimis aid for financing urgent liquidity needs caused by the COVID-19 pandemic, thereby opening the possibility of granting aid to those entrepreneurs who have utilized the existing limits of de minimis aid – they inform us from HAMAG-BICRO. They note that the temporary framework will be applied until the end of December 2020 and does not apply to already submitted loan or guarantee requests, but to future programs of which you will be informed on the HAMAG-BICRO website.

Let us remind you, the European Commission has approved another Croatian program of credit guarantees and loans totaling approximately 322 million euros (2.45 billion kuna) for micro, small, and medium-sized enterprises affected by the coronavirus pandemic, and the program will be managed by HAMAG-BICRO, the Ministry of Finance announced on Wednesday. The Commission, in fact, approved this program on Tuesday based on the Temporary Framework on state aid adopted on March 19 and supplemented on April 3 and May 8, 2020.

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