Eximbank, government get €150 million in EIB loans
The European Investment Bank (EIB) has agreed to grant Hungary’s state-owned Magyar Export-Import Bank (Eximbank) a €100 million loan to promote the exports of SMEs and the government a €50 million loan to modernize state administration.
EIB vice president László Baranyay, National Economy Minister Mihály Varga and Eximbank CEO Roland Nátrán signed the agreement for the loan in Budapest on Friday.
Varga said at the signing that EIB resources have helped Hungary to improve its competitiveness and contributed to an improvement in the country’s debt structure. He added that the beneficial conditions surrounding the EIB funding has resulted in significant interest savings for the government.
Nátrán stated that Eximbank will use at least 70% of the €100 million in EIB credit to support SMEs, and will fully pass on the interest savings made on the EIB loan.
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