Estonian exporters’ aid package got green light from entrepreneurs

The aid package worth EEK 4 bln got approved yesterday and Juhan Parts, the Minister of Economic Affairs and Communications will take it to the government in February, Äripäev reports.

Aivar Rehe, the CEO of Sampo bank, who represented Banking Association at the meeting said, he endorses and praises the prepared package.

“We got surety that the parties are ready to value and revalue the existence of monetary resources,” Rehe noted.

Parts said that all parties are interested and now one has to make sure, which companies need help.

“It’s pointless to hope that troubled entrepreneur gets support that would save the company that has lost competitiveness. The main thing is to support adaptability and to see whether there are such market errors in which additional state’s or Kredex’ guarantee can be of help,” Parts said.

The help plan:

*Current help: operating loan, loan guarantees and export guarantees.

*Possible additional help: state’s guarantee to banks’ loans, financing the banks (getting the resources from the financial market together with state financing), re-financing bank loans, own capital loan (for the companies, who don’t have enough own capital for the banks).

Source: BBN