In 2015 in Hungary the European Investment Bank signed new loans amounting to EUR 1.42bn, representing the highest level over the period of the past three years.
EIB Vice-President László Baranyay, responsible for the Bank’s operations in Central European countries, informed Hungarian journalists about the EU bank’s performance in Budapest today and stressed that the EIB is keen to maintain its high level of support in Hungary in the years to come.
“Lending by the EU bank in Hungary reached a total of EUR 1.424bn in 2015, representing an 88% increase compared to the previous year and a record amount since 2012”, commented Vice-President Baranyay who continued that “this yearthe EIB Group will buildup its physical presence in Hungary byopening its new office to further increase contacts with public and private promoters.”
In 2015 the Bank provided a HUF 34.5bn (around EUR 115m) loan to the Hungarian Academy of Sciences to finance its basic scientific research and the operation of its Library and Digital Information Centre.
Last year the EU bank pledged co-financing totalling EUR 1bn with EU funds over the programming period 2014-2020. This involves two loans: EUR 500m to co-finance priority projects receiving support from EU Cohesion Funds, European Regional Development Funds and the Connecting Europe Facility; and EUR 500m to co-finance priority projects being supported by European Regional Development Funds and the European Social Fund.
Both loans are first tranches of already approved EIB loans totalling EUR 2.5bn and they will support projects costing a total of EUR 24bn. This combination of EIB loans and EU grants enables Hungary to meet its national strategic priorities – supporting sustainable economic growth and improving the everyday life of citizens by boosting labour productivity, promoting inclusive economic growth and increasing the number and quality of jobs.
In 2015 the EIB provided significant support for the development of Budapest:
EUR 200m to finance priority investment schemes in the areas of public transport and road networks, including the reconstruction of metro and suburban railway lines, tram and trolleybus infrastructure, road and bridge rehabilitation and rolling stock-related investments designed to improve the quality of public transport services, and
EUR 100m to support improvements in the fields of Budapest’s urban renewal and regeneration, energy efficiency enhancement and environmental protection.
This finance is vital for ensuring Budapest’s continued sustainable social and economic development, strengthening its competitiveness by making it more attractive to investors, increasing the quality of life and upgrading the urban environment.
The European Investment Bank (EIB), the bank of the European Union, and the Ministry of Finance of Hungary have signed a €146 million loan to support the country’s healthcare sector with the procurement of medical supplies, mobile units and a wide range of equipment.
The European Investment Bank Group (EIB Group) provided €767 million in loans and guarantees to its clients in Hungary in 2020 or 0.57% of Hungary’s GDP. The EU bank channelled the majority of the funds into faster COVID-19 recovery of Hungarian SMEs and mid-caps, as well as the recovery of the public healthcare sector from the pandemic.
The EIB will lend €200 million to Eximbank, Hungary, creating a new credit line to support the faster recovery of Hungarian companies from the negative economic effects of the COVID-19 pandemic. The financing will be available for companies looking to solve working capital issues and make investments.