Release date: 10 June 2009
Promoter – Financial Intermediary
SG Eszközfinanszírozás Magyarország Zrt.
SG Járműfinanszírozás Magyarország Zrt.
SG Eszközlízing Magyarország Kft
Location
Description
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.
Objectives
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.
Sector(s)
Proposed EIB finance (Approximate amount)
Up to EUR 50 million.
Total cost (Approximate amount)
Not applicable.
Environmental aspects
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.
Procurement
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.
Status
Signed - 15/09/2009
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).