The 30 billion of the food industry bank guarantee program is not enough

The 30 billion will be not enought – announced Secfretary of Ministry of Agriculture and Rural Development, Gőgös Zoltán on a professional conference in Budapest.

The goal of the  program is that the basic food manufacturers can get medium-term working capital loans from commercial banks with the guarantee of the Hungarian Development Bank. The bank rate of the bank guarantee will be 80 percent, for meat, poultry, milk, potatoes, fruit and vegetables processors, mill and bakery , grape wine producing companies. Guarantees given by the state will be 90 percent. Thirty billion HUF was separated which is 37.5 billion HUF in case of full utilization – reports Népszabadság.