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MKB Bank signs €100 mln EIB credit line

Hungary's MKB Bank on Wednesday said it signed for another €100 million credit line from the European Investment Bank (EIB) to finance project loans for SMEs, mid-caps and local councils.

At least 70% of the credit is aimed to support lending to SMEs with headcount under 250.

The credit line is primarily geared toward investments in the energy, environmental, industrial, services and tourism sectors, as well as in infrastructure and the knowledge-based economy.

In October of 2009, the EIB opened a €100 million credit line to MKB Bank to finance SME lending .

The EIB has lent more than €10 billion in Hungary since 1990. About €3.4 billion went to private businesses.