Signature(s)
Summary sheet
- Credit lines - Credit lines
The operation consists of a dedicated loan to finance projects carried out by small and medium sized enterprises (SMEs) and Midcaps mainly based in Hungary. A 30% of total amount will be focusing on Climate Action and Environmental Sustainability projects.
The aim is to enhance access to finance for SMEs and Midcaps mainly operating in the industry and services sector.
The proposed operation supports the financing of small and medium scale projects undertaken by SMEs and Mid-Caps in Hungary. As such, it falls under the scope of EU objectives through its contribution to job creation and to increased competitiveness and productivity of SMEs and Mid-Caps. Moreover, at least 30% of the resulting investments are intended for Climate Action & Environmental Sustainability, which will accelerate the green transition of the economy. Additional priorities of the operation include the EIB Cohesion Policy Objective for some estimated 80% of investments. Building on the Intermediaries' strong track record and long-standing experience, it is expected that EIB funds be utilised in an efficient and timely manner, thereby providing final beneficiaries with improved financing conditions. In addition to diversifying their financing sources, the Bank's involvement will also provide the Financial Intermediaries with a good level of flexibility in terms of drawdowns, thus facilitating the deployment of the facility. Through this product, it is expected that the crowding in effects will amplify even further the EIB's impact and outreach.
Final beneficiaries will be requested to comply with applicable national and EU legislation, as appropriate.
Final beneficiaries will be requested to comply with applicable national and EU legislation, as appropriate.