MFB to provide HUF 115 bln in credit for energy efficiency upgrades

Sustainability

State-owned Hungarian Development Bank (MFB) will make HUF 115 billion in zero-interest credit available for energy efficiency upgrades of Hungarian homes from October, the lender said on Friday. 

The loans will be capped at HUF 10 million for detached homes and HUF 7 mln per home in blocks of flats. The loans may be used to insulate homes, install modern heating or hot water systems or add solar power systems. 

The down payment on the loan is 10% and its run is limited to 20 years.

The novel credit could support the energy efficiency upgrades of more than 50,000 homes, MFB said.

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