Contracts signed under phase II totaled HUF 738.9 bln by the end of May.
Including the first phase of the scheme, from June-September 2013, contracts signed under the FGS amounted to approximately HUF 1.440 trillion, the central bank said.
Under the FGS, The MNB provides zero-interest refinancing to banks, which they can lend to SMEs at an APR not exceeding 2.5%.
The central bank launched phase II of the scheme in October 2013 for an initial volume of HUF 500 bln, which it raised to HUF 1 trillion in September 2014.
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