Govʼt expands ways MFB may finance investments

Competition

Hungaryʼs government has expanded the ways the Hungarian Development Bank (MFB) may finance investments beyond its legal mandate in a decree published in the latest issue of the official gazette Magyar Közlöny, state news wire MTI reports.

The decree also raises the threshold for MFBʼs exposure to non-financial clients from 45% to 60% of own capital.

The decree sets the exposure threshold for financial businesses at 100% of own capital.

The decree exempts mergers of state-owned venture capital funds established to manage the economic fallout from the pandemic from mandatory registration with the Competition Office (GVH).

The measures were taken in the framework of state of emergency powers the government is exercising to manage the coronavirus crisis.

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