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    Reference: 20150628
    Release date: 15 January 2016

    Promoter – Financial Intermediary

    HUNGARY

    Location

    Description

    The proposed operation will support the implementation of specific, long-term measures identified by Hungary's New Rural Development Programme for the EU programming period 2014-2020. It will focus on improving the competitiveness of the agricultural sector and sustainable rural development by supporting small-scale rural and agricultural investments.

    Objectives

    The project will generate economic benefits in terms of employment, rural development and support to small and medium-sized enterprises (SMEs). The project will contribute to EU policy objectives in the fields of climate change, biodiversity protection and soil management. As the schemes are spread out in the country, the project will primarily impact Hungary's development in less-developed regions.

    Sector(s)

    Proposed EIB finance (Approximate amount)

    EUR 440 million

    Total cost (Approximate amount)

    EUR 3000 million

    Environmental aspects

    The project is expected to deliver multiple environmental benefits. Certain activities included in the overall project may require an environmental impact assessment (EIA), subject to the decision of the competent authority and in accordance with relevant applicable EU environmental regulations. Where an action may affect a Natura 2000 site, the Bank would require the promoter to follow the procedures of applicable directives, as transposed into national law.

    Procurement

    The Bank will require the promoter to ensure that contracts for the implementation of the sub-projects are tendered in accordance with relevant applicable EU procurement legislation, with publication of tender notices in the EU Official Journal, as and where required.

    Status

    Signed - 15/12/2016

    Disclaimer

    Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
    They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).

    Related tags

    Hungary Agriculture, fisheries, forestry