MFB to establish countrywide points for EU-supported credit

Banking

The state-owned Hungarian Development Bank (MFB) will make EU-supported financing available to companies at 400 points around the country, The Prime Ministerʼs Office said on Wednesday, according to Hungarian news agency MTI.

The office said 397 of the points would be located outside of the capital.

MFB will sign the financing contracts with the companies, while local banking partners will be in charge of supervision and assisting with management. MFB will also offer its own financial products to clients. MFB will pick its partners for the scheme in the autumn.

The government wants MFB to disburse approximately HUF 1.0 trillion of EU-supported financing in the next seven years.

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