Bill would mandate MFB with EU funding tasks

Interview

The government submitted a bill to the Parliament that is intended to clarify the law on the Hungarian Development Bank (MFB), desginating it with tasks related to European Union structural and development funding. The proposed bill is expected to task the MFB with managing applications for funding, preparing decisions, executing financial transactions and monitoring processes.

State secretary Zsuzsa Németh said in September that the government was planning to transform MFB into a financial services center. The plan was to involve the MFB in the distribution of credit from European Union sources with the cooperation of the National Economy Ministry and the Prime Minister's Office, she said.

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