Last year, the EIB Group signed loans worth €700m with Hungary to promote SMEs, urban development and competitiveness. The financial support was aimed at export-oriented companies, education, urban development and telecommunication projects.
In 2017, the EIB Group, comprising the European Investment Bank (EIB) and the European Investment Fund (EIF), increased its commitment in Hungary in terms of both lending and guarantees and investments.
Loans granted by the EIB reached €702m, an increase of approximately 3% year on year, while guarantees and investments by the EIF amounted to €70m, a very significant increase from previous year (€10m). EIB loans represent 0,63% of the country GDP, versus a EU average of 0,46%, showing the significant impact that the EU bank’s financing has on the Hungarian economy.
