MFB offers loan guarantees to support economic recovery

Banking

The state-owned Hungarian Development Bank (MFB) on Tuesday announced the launch of credit guarantees it is rolling out as part of the government's economic recovery plan, according to a report by state news wire MTI.

MFB will offer guarantees up to 80% on loans taken out in the framework of the National Bank of Hungary's Funding for Growth Scheme Go! and its Bond Funding for Growth Scheme as well as for loans from commercial lenders.

The state will back the guarantees up to 90%.

The MFB will decide on the scale of the guarantees and fees on a case-by-case basis.

The guarantees are available for project loans, investment loans, working capital loans, loans for pre-financing subsidies, refinancing loans, loans for financial assets and loans for acquisitions.

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