MNB to amend Funding for Growth conditions
The National Bank of Hungary (MNB) announced that conditions of its Funding for Growth scheme will be amended as of May 1.
The amendments include extension of the maximum term of working capital loans provided under the scheme from one to three years, and the deadline for drawing on investment loans will be extended by six months.
The Funding for Growth scheme involves the National Bank of Hungary (MNB) providing 0% refinancing to banks, which must be relent to Hungary-based SMEs at a maximum interest rate of 2.5% APR.
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