EIB lends Magyar Eximbank EUR 400 mln for SMEs

History

The European Investment Bank (EIB) on Tuesday signed an agreement on a EUR 400 million loan to Magyar Export-Import Bank (Eximbank) which will be used to finance preferential loans for SMEs and mid-caps in Hungary, state news wire MTI reported.

Eximbank CEO Zoltán Urbán said the loan agreement would "create a significant funding basis for financing SMEs and mid-caps in the coming years.

"As a result of recent cooperation, we were able to finance 362 different SMEs and mid-cap companies that employ around 62,000 people," he added.

EIB Vice President Vazil Hudák said supporting access to financing for SMEs and mid-caps is a "top priority" for the EIB Group.

About 13% of Hungarian companies consider themselves to be finance-constrained, according to a recent EIB survey, well over the 5% average for the European Union, noted MTI.

HUPX Joining Serbian, Slovenian Peers in Adex Power

HUPX Joining Serbian, Slovenian Peers in Adex

Moldovan Pensions to be Increased as of April 1 World

Moldovan Pensions to be Increased as of April 1

Schoenherr Names Miklós Klenanc as Head of Local M&A Practic... Appointments

Schoenherr Names Miklós Klenanc as Head of Local M&A Practic...

Hungarian Wine Marketing Agency to Host Summit Drinks

Hungarian Wine Marketing Agency to Host Summit

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.