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Caution against risk helped to contain default rates to a very low percentage, thereby maintaining the Fund’s operations close to financial sustainability.
警告风险以帮助遏制违约率很低的百分比,从而保持该基金的操作接近财务可持续性。
But since guarantees were granted with a significant subsidy element, financial sustainability was not intended to be achieved and was never achieved.
但由于担保获得了明显的补贴元素,财务可持续性并非为了实现和从未兑现。
Although loan defaults and operating costs were kept at a low level, they could not be covered through the fees that were levied just on a subset of guaranteed firms.
虽然贷款违约和运营成本保持在低水平,他们不能被覆盖的费用,通过征收只是一个子集上保障公司。
The Fund could, however, reach financial sustainability through a higher differentiation of the subsidy component according to each firms’ financing need and by containing the rise of operating costs.
该基金可能,然而,达到财务可持续性通过更高的分化的补贴组件根据各企业的融资需要和通过包含运营成本的崛起。
In any case, even if these changes are not enacted, the cost of such subsidy is extremely low compared to financing impact that it had for SMEs, an impact far above that of other State aid instruments
在任何情况下,即使这些变化不生效,这样的补贴成本极低而融资的影响,它已为中小企业,影响远高于其他国家援助工具