The European Investment Bank (EIB) signed with the Hungarian Ministry of Finance three loans totalling to EUR 400 million - two framework loans for co-financing priority projects with EU funds within the period of 2007 - 2013: EUR 200 million for the sectors of environment and transport and EUR 150 million for education, training and employment. The third loan of EUR 50 million will finance University of Debrecen’s Development Programme and its research and innovation activities.
The EUR 200 million loan will contribute to the implementation of the New Hungary Development Plan through supporting environmental and transport projects identified by the Hungarian Ministry of Transport and Ministry of Environment and Water. The EIB loan, will together with EU funds, help to meet Hungary’s commitments to apply EU legislation in the area of environment. It will also improve the Hungarian transport network in terms of the increasing of its capacity and safety and contribute so to a deeper integration with the EU Single Market and better interconnection with the neighbouring countries.
The EUR 150 million education facility will help to realize the New Hungary Development Plan through co-financing selected projects involved in the Operational Programmes of the Social Renewal and of the Social Infrastructure. This facility will focus on projects in the field of education, training and employment aiming at the expansion of employment by increasing labour market participation of the working-age population and improving the quality of human resources. It will also provide financing for the development of the infrastructure required for the successful implementation of those projects.
The EUR 50 million loan will finance in 2006-2008 both the University of Debrecen’s research, development and innovation projects targeted to increase the quality, efficiency and scope of the University’s scientific and capital investment programme. The loan will contribute to the Hungary’s effort to increase investments in line with the EU’s Lisbon Strategy, which aims to make Europe up to the end of the current decade a more innovative and competitive region by fostering R&D and innovation.
To these ends, earlier this year the EIB has signed with the Hungarian Finance Ministry a EUR 165 million loan that serves for financing of the investment programme of the Hungarian Research and Technology Innovation Fund that supports projects relevant for the acceleration of the economic growth in Hungary and the increase of the competitiveness of the Hungarian economy.
Note for the Editor:
The prime objective of the EIB, the European Union’s long-term financing institution, is to contribute to the integration, balanced development and economic and social cohesion of the Member States by financing sound investment. Since 1990, the Bank has provided funds including the current loans totalling some EUR 8 billion to projects promoting EU policy objectives in Hungary.
Hungary is entitled to some EUR 25 billion from EU Funds in the budget period 2007–2013. Through its various loan products, the EIB is providing the financial resources needed for co-financing projects with the EU funds and thus contribute to the successful implementation of the New Hungary Development Plan.