Applications for Gábor Baross Program Exceed HUF 200 bln
New applications submitted for subsidized corporate credit under the Gábor Baross Reindustrialization Program have exceeded the HUF 200 billion top-up for the scheme available from January 15, Magyar Eximbank said in a press release.
Of the 150 new applications received, Magyar Eximbank said it had already approved 97 for a combined HUF 135 bln of credit.
Around 36% of the approved applications are for SMEs, and 47% are for companies in manufacturing, it added.
About 84% of the applications are for euro-based loans. The credit is available with rates capped at 5% for forint loans and 3% for euro loans.
The funding targets the food, construction, telecommunications, pharmaceutical, tourism and catering, and logistics sectors, as well as automotive industry suppliers. The program was launched in February 2023, with an initial allocation of HUF 1 trillion.
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