MFB reshuffles organization structure

Initiatives

State-owned development bank MFB Zrt has set up a unit called Business Subsidy Coordination Zrt to manage the allocation of EU subsidies from next year, CEO Sándor Czirják announced at a press conference.

State-owned development bank MFB Zrt has set up a unit called Business Subsidy Coordination Zrt to manage the allocation of EU subsidies from next year, CEO Sándor Czirják announced at a press conference. The new company will make available EU funds for businesses totaling Ft 100 billion - Ft 120 billion a year. At the same time, four state-run organizations and companies, Hungarian Business Development Kht, Informational Society Kht, Regional Development Holding and Loan Guarantee Zrt will be merged into MFB.

MFB Invest, another recently-established unit, will manage MFB's development capital portfolio as well as assets formerly managed by the bank’s property developer unit National Property Development and Investment Zrt. MFB Invest will also take over some items in the portfolio of Corvinus, another MFB unit. Corvinus, originally set up to support Hungarian companies' investments abroad, especially in the neighboring countries, will start operating with a new profile next year.

MFB will update and develop its loan program next year to include loans related to the second National Development Program, a framework for the disbursal of EU funding during the 2007-2013 budgetary period. It will offer loans supplementing the co-financing requirement for EU subsidies, as well as loans for energy saving programs, urban rehabilitation projects and central and local government developments, Czirják said. (MTI, Népszabadság)

ADVERTISEMENT

European e-commerce soars during pandemic - study Analysis

European e-commerce soars during pandemic - study

Lawmakers approve 2022 budget Parliament

Lawmakers approve 2022 budget

Duncan Graham reelected as BCCH president Appointments

Duncan Graham reelected as BCCH president

Chain Bridge to be closed for traffic for 18 months City

Chain Bridge to be closed for traffic for 18 months

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.