With EU accession looming, the European Investment Bank (EIB), the Union's development bank, has been busy extending loans to Hungary and the region to boost the small- and medium- sized enterprise (SME) sector in countries preparing for membership.
The EIB and Erste Bank, Hungary, signed a contract worth Ђ30 million to SMEs and local municipalities with development finance, with special priority given to environmental and energy saving projects promoted by the
smaller local authorities.
The EIB vice president said the loans would help increase the productivity and competitive capacity of SMEs and provide municipalities with the funds to improve the local business environment, making more attractive areas for future investments.
This deal came just one day after the EIB had signed a Ђ100 million loan contract with Sanpaolo IMI Internazionale for credit lines to support SME and municipality investment
projects in Hungary, Romania and Slovenia.
