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Government to raise capital of Eximbank

Sustainability

The government has ordered HUF 10.9 bln to be regrouped within the government budget to raise the registered capital of the Hungarian Export-Import Bank (Eximbank), according to a resolution published in Fridayʼs issue of the official gazette Magyar Közlöny, Hungarian news agency MTI reported on Saturday.

The amount has been transferred to the Ministry of Foreign Affairs and Trade, which exercises ownership rights over Eximbank, from housing subsidies in the direct revenues and expenditures chapter of this yearʼs government budget.

Public records show that Eximbank has been state-owned since 2012 and has registered capital of HUF 58.1 bln.

Eximbank CEO Zoltán Orbán said earlier that Eximbank disbursed new loans worth HUF 139 bln in the first half of 2015 and plans to disburse loans worth HUF 327 bln by the end of this year. The bank projects its total volume of loans to be HUF 774 bln by the end of the year. Its refinancing volume is expected to exceed HUF 500 bln in 2015.

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