Release date: 12 June 2003
Promoter – Financial Intermediary
Magyarországi Volksbank Rt.
Rákóczi út 7
H-1088 Budapest
Location
Description
Financing of small- and medium-scale projects in the field of energy, environmental protection, infrastructure (including health, education, urban renewal and social housing - if integrated in well-defined urban rehabilitation schemes), industry, creative and cultural services and tourism.
Objectives
The global loan would contribute to the development of term finance in Hungary. Through the financial intermediary, the global loan would provide long-term funding for eligible projects promoted notably by small and medium sized enterprises (SMEs) or local municipalities/authorities/associations.
Sector(s)
Proposed EIB finance (Approximate amount)
EUR 40 million
Total cost (Approximate amount)
Minimum EUR 80 million
Environmental aspects
The financial intermediaries will be requested to ensure compliance of the sub-projects with EU Directives, as appropriate.
Procurement
The financial intermediaries will be requested to ensure compliance of the sub-projects with EU Directives, in particular for the award of public sector contracts, as appropriate.
Status
Signed - 7/07/2003