MFB partner points to offer HUF 750 bln of development funding
The expanded network of "partner points" of the Hungarian Development Bank (MFB) will make funding of HUF 750 billion available by 2020 through credit programs to SMEs and retail borrowers, Minister for National Economy Mihály Varga said on Monday, state news agency MTI reported.
Photo: Ministry for National Economy
The network of partner points of the state-owned MFB was established to disburse reimbursable European Union funding available in the 2014–2020 EU budget cycle, Varga recalled.
In the latest public procurement tender to expand the network, OTP Bank won a contract to set up 163 partner points, while MKB will set up 35 points. Gránit Bank and the Growth Credit Bank (NHB) will also each set up a single partner point, bringing the total number to 642. The new partner points will start operating this week, including 126 from Monday. A further 74 will be opened by the end of this year, the minister said.
A consortium of TakarékBank, savings cooperative B3 Takarek, FHB Bank and Budapest Bank won a tender to set up 442 of the partner points last year.
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.