Hungarian Eximbank disburses $66.5 mln in tied aid to Laos, Indonesia

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The Hungarian Eximbank is disbursing $66.5 million in tied aid to Laos and Indonesia, the lender said on Saturday, according to Hungarian news agency MTI.

Eximbank is disbursing $30 mln of the tied aid to the Laotian government to set up a food safety system. The interest-free loan has an 18-year run with an eight-year grace period. 

The bank said it is disbursing $36.5 mln of the tied aid to Indonesia for a water management programme.

The contracts for both programs have already been signed, MTI said.

Tied aid is preferential credit offered to developing countries for infrastructure projects implemented by companies from donor countries.

Eximbank will finance the principal of the tied aid and the government will cover the interest subsidies.

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