MFB calls tender to establish credit distribution network

Telco

The state-owned Hungarian Development Bank (MFB) announced today that it is calling a tender to establish a network of 402 MFB points around the country to make reimbursable EU-funding available to companies.

MFB plans to disburse at most HUF 300 bln-450 bln in EU-supported credit pending demand during 2015 and 2016 to 15,000 small- and medium-size enterprises.

MFB will sign the financing contracts with the companies, while local banking partners will be in charge of supervision and management of the funding. MFB will also offer its own financial products at the MFB points.

MFB points will be located at already existing local branches of financial lenders. The points will be spread across the entire country, and will reach around 70% of the population.

Earlier in October, deputy-CEO Sándor Bertalan said MFB expects to disburse more than HUF 730 bln in EU-supported financing during the 2014-2020 funding period.

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