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Signature(s)

Amount
€ 50,000,000
Countries
Sector(s)
Hungary : € 50,000,000
Credit lines : € 50,000,000
Signature date(s)
15/09/2009 : € 50,000,000
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Summary sheet

Release date
10 June 2009
Status
Reference
Signed | 15/09/2009
20090381
Project name
Promoter - financial intermediary
SGEF HU SMEs and Other Priorities

SG Eszközfinanszírozás Magyarország Zrt.
SG Járműfinanszírozás Magyarország Zrt.
SG Eszközlízing Magyarország Kft

Proposed EIB finance (Approximate amount)
Total cost (Approximate amount)
Up to EUR 50 million.
Not applicable.
Location
Sector(s)
Description
Objectives

EIB loan to finance small and medium-sized projects according to the Bank’s eligibility criteria, to be carried out primarily by SMEs, mainly in Hungary.

The proposed transaction will support the lines of action identified through the SME consultation process endorsed by the Board of Directors in June 2008. This transaction will take into account the new characteristics of the EIB loan for SME financing (as approved by the Board of 23 September), which should foster the utilisation of the facility, while ensuring that the Bank’s value added fully reaches the final beneficiaries. Finally, the transaction shall also contribute to meet the Bank’s extended commitment for SME lending for 2008-09 made at the Informal Ecofin meeting of 12/13 September 2008 at Nice.

Environmental aspects
Procurement

Hungary has harmonised environmental legislation with EU regulations. Within the framework of the EIB loan, the Borrowers will be requested to ensure compliance of the sub-projects with EU directives, as appropriate.

The Hungarian legislation regarding public procurement is fully in line with the EU directives. The borrowers will ensure that final beneficiaries undertake to comply with the national and EU requirements in force with regard to procurement for works, supplies and services.

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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).

General enquiries and comments

The EIB is committed to open communication and encourages constructive stakeholder input regarding its activities.
Enquiries and comments concerning the EIB’s involvement in a project or the financing facilities, activities, organisation and objectives of the EIB, can be sent to the EIB Infodesk.
Alternatively, the EIB can be contacted through its external offices.
Queries regarding details of a specific project, in particular when it is under appraisal by the EIB, should preferably be addressed directly to project promoters.

Media enquiries

Media-related enquiries can be addressed to the EIB Press Office. Please also visit our Media information section.

Complaints mechanism

Any complaint regarding alleged maladministration can be lodged via the EIB Complaints Mechanism. The European Ombudsman acts as an independent external accountability mechanism of the EIB.

Zero tolerance against fraud and corruption

The EIB has a zero tolerance policy on fraud or corruption. To report allegations of fraud and corruption relating to EIB-financed projects, please contact the Fraud and Investigation division. All complaints will be treated as strictly confidential and handled in line with the EIB investigation procedures and the Anti-Fraud Policy.

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