Press Release: EIB lends EUR 100m for projects by mid-cap companies in Hungary

The European Investment Bank (EIB) lent EUR 100m to Hungarian Development Bank Ltd. (Magyar Fejlesztési Bank Zrt. – MFB) to finance projects by mid-cap companies in Hungary. This was the first intermediated loan provided by the Bank in Hungary that will support only projects implemented by mid-cap companies (with more than 250 and fewer than 3 000 employees) and improve their access to long-term finance. To this end, the EIB joined forces with well-established financing institutions, like MFB, that know the local market, have mid-cap companies as their customers and have a well-developed network of branches.

EIB funds will finance up to 50% of the cost of small and medium-sized projects, with a maximum of EUR 25m for an individual project, in the areas of industry, transport, environmental protection, energy and energy savings, infrastructure and services, including tourism.

Th is loan is a continuation of the successful cooperation between the EIB and MFB. Previously, the EIB has provided five credit lines to this financial institution amounting to EUR 350m in support of SME investment.

• Primary Source