Hungary’s state-owned export-import bank has agreed to credit facility investments totalling €331m with 13 financial institutions in the country.
The financial institutions are Budapest Bank, CIB Bank, Commerzbank, Erste Bank Hungary, Gránit Bank, MKB Bank, NHB Bank, Oberbank, OTP Bank, Raiffeisen Bank, Takarékbank, Sopron Bank Burgenland and UniCredit.
József Dancsó, CEO of Magyar Export-Import Bank (Magyar Exim), says the funding lines will “significantly accelerate” the lending process for SMEs in the country. Businesses will be able to apply for “de minimis” funding through an EU provision, gaining access to credit with subsidised interest, with the aim of boosting production capacity and international competitiveness.