Release date: 8 February 2010
Promoter – Financial Intermediary
Erste Bank Hungary Nyrt.
Location
Description
Loan for financing small and medium-sized projects carried out primarily by SMEs (at least 70%), local authorities and mid-cap enterprises and financial beneficiaries of any size for investments of limited scale in the fields of the knowledge economy, energy and environmental protection 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 account of 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 made at the Informal Ecofin meeting of 12/13 September 2008 at Nice.
Sector(s)
Proposed EIB finance (Approximate amount)
Up to EUR 100 million
Total cost (Approximate amount)
Not applicable
Environmental aspects
The Intermediary will be required to ensure compliance of projects financed under the loan with applicable national and EU legislation.
Procurement
The Intermediary will be required to ensure compliance of projects financed under the loan with applicable national and EU legislation.
Status
Signed - 1/07/2010
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).