Loans and guarantees of the European Investment Bank (EIB) group in Hungary added up to €767mn in 2020, the multinational lender announced on March 16.
Most of the funding went toward accelerating the recovery of Hungarian SMEs and mid-caps from the coronavirus crisis, as well as to supporting the recovery of the public healthcare sector from the pandemic.
The credit included €275mn for SME financing available through state-owned development bank MFB and Magyar Eximbank, €120mn for an upgrade of the network of the state utility giant MVM, a €200mn loan to the government for participation in EU-financed projects that will support improvements in services, telecoms, education and urban development, as well as providing additional backing to Hungarian SMEs and mid-caps, and a €162.5mn loan for procurement of pandemic defence materials.
Finance Minister Mihaly Varga said the EIB had provided remarkable support in health protection and in boosting public and private sector investments with the help of increased credit lines and flexible lending practices.
The EIB has lent a total of €22.8bn in Hungary.
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