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. Last Updated: 07/27/2016

Germany to Create Polish Business Fund

WARSAW, Poland -- Germany plans to create a $200 million fund next year to support Polish small- to medium-sized companies, Poland's Foreign Trade Minister Leslaw Podkanski said.

Podkanski told a news conference the idea to launch the fund came from German Industry Minister Guenter Rexrodt, whom he met last week in Germany. Podkanski said Germany planned to launch the fund in March.

The fund, to which both the government and banks would contribute, would be similar to the Polish-American Enterprise Fund, or PAEF, active in Poland since 1990. The PAEF, set up with U.S. government money, supports the development of private businesses and offers loans and equity investments to Polish enterprises.