Banks disburse HUF 513 bln in loans through Funding for Growth Scheme

MNB

Net of repayments, banks disbursed HUF 512.5 bln in loans as of April 3 to small- and medium-size enterprises (SMEs) as part of phase II of the National Bank of Hungary (MNB) Funding for Growth Scheme (FGS), the central bank said, according to news agency MTI. 

The credit was disbursed to 15,863 businesses. Contracts signed by April under phase II amounted to HUF 660 bln. The total contracts signed for both phase I and phase II of the FGS exceeded HUF 1.360 trillion, the central bank said. Under the FGS, MNB provides zero-interest refinancing to banks which they can lend to SMEs at an APR not exceeding 2.5%. 

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