MNB to extend Funding for Growth Scheme until end-2015

MNB

The National Bank of Hungary's (MNB) Monetary Council decided on Tuesday to extend the Funding for Growth Scheme until the end of 2015, MNB managing director Márton Nagy said at a conference in Budapest today.

This makes banks eligible to sign contracts with borrowers until the end of 2015, leaving all other terms remaining intact, the director said. Nagy added that more than 16,000 businesses have obtained loans worth about HUF 1.14 trillion in the two phases of the Scheme, which is 20% of the total volume of small and medium-sized businesses. The two phases of the Scheme have raised the GDP by 1%.

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