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Gov’t-backed lending construction could take months

  A proposed government-supported lending construction to stimulate the economy presents a serious technical task for banks and could take months to introduce, Hungarian Bank Association chairman Péter Felcsuti said on Friday, after meeting with Finance Minister János Veres and Economy Minister Gordon Bajnai.

Since October, the government has done everything possible in the interest of “pumping back” the resources necessary for liquidity, Bajnai said. To speed up the process, the cabinet has asked for the help of commercial banks.

Prime Minister Ferenc Gyurcsány told an extraordinary session of Parliament on Thursday that Bajnai would meet with the Bank Association in the name of the government to urge banks to start steady lending to businesses. (MTI-Econews)