EIF, Erste Bank sign EUR 67 mln guarantee agreement
The European Investment Fund (EIF) and Erste Bank Hungary signed a guarantee agreement in Budapest on Thursday that will support EUR 67 million of loans and leases to innovative Hungarian SMEs. The transaction is expected to benefit about 350 businesses.
The agreement was signed by Pier Luigi Gilibert, the EIFʼs chief executive, and Erste Bank Hungary Chairman-CEO Radován Jelasity, within the framework of the European Commissionʼs InnovFin initiative providing EU financing for innovators, and made possible by the support of the European Fund for Strategic Investments (EFSI), the central pillar of the Investment Plan for Europe, also known as the "Juncker Plan."
"Erste Bank Hungary is among the top ten largest banks in Hungary with a strong focus on SME and small mid-cap lending," noted Gilibert. "This new signature will help the bank to expand its activities in the field of innovation financing for SMEs and small mid-caps at more attractive terms and conditions."
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.