EU-backed loans for creative Polish firms

Some 3,000 Polish firms in the cultural and creative industries are expected to gain access to around EUR 125 million in new financing under an EU-backed loan programme.

The financing comes under the European Commission’s Creative Europe programme and is intended for small and medium-sized enterprises (SMEs) active in sectors such as visual arts, design, books and music.

The European Investment Fund and Poland’s Bank Gospodarstwa Krajowego on Thursday signed a counter-guarantee agreement for loans to Polish SMEs, supported by the Cultural and Creative Sectors Guarantee Facility under the EU’s Creative Europe programme, according to a press release.

Poland’s Deputy Prime Minister and Culture Piotr Gliński, who attended the signing ceremony, has been quoted as saying: “Culture is a very important part of the economy … it is a dynamically growing industry that continues to create new jobs and new sources of income. The creative sector is one of the industries that is going to play an important role in the modern economy, and therefore, its development is of great importance to Poland and the Polish government.”

The European Commission has tweeted: “We are backing EUR 125 million of loans for 3,000 SMEs in the cultural and creative sectors in Poland. It will support companies in sectors like the visual arts, design, books or music.”


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