The European Bank for Reconstruction and Development (EBRD) and Erste Bank Hungary signed a €15 million refinancing credit framework agreement to provide local councils in Hungary with support for investments aimed at improving energy efficiency.
Local councils may apply for loans for a maximum of €5 million and maturity of 15 years, and the loans can be granted either in forint or in euros.
The European Union will provide additional non-refundable support amounting to 20% of the cost of the projects once they are successfully completed.
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