The government is launching three new loan programs in the total amount of HUF 80 billion (US$420m) to assist investments in the municipal and SME sectors, economy and transport minister Janos Koka announced after Wednesday's cabinet meeting.
Loans under the three programs will be available from the state-owned Hungarian Development Bank (MFB), and will be refinanced by commercial banks. Loans under the new programs will be available "within weeks," Koka said.
The largest of the three programs is the Municipal Infrastructure Development Loan Program, with a framework amount of HUF 60bn.
Under this scheme, municipalities may apply for loans to finance up to 90% of project costs in the areas of drinking water quality improvement and wastewater treatment, as well as public road development, renewable energy investments and property renovation.
