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CEB supports Hungary’s development programs

The Council of Europe Development Bank (CEB) is to channel a €150 million ($214 million) loan to Hungary to support the finances of the residential schemes of the New Hungary Development Plan.

The cooperation entails a total credit line of €686 million ($978 million) being transferred over a span of three years, the first part of which will be used to finance the prefab program and the replacement of doors and windows with new, energy conserving types. The total CEB budget is to be divided €351 million ($500 million) to subsidize EU development tenders and €335 million ($477 million) to support municipal, residential, and social integration campaigns, said the Paris-based institution’s governor, Raphael Alomar. (Gazdasági Rádió)