Release date: 11 June 2010
Promoter – Financial Intermediary
Garantiqa Hitelgarancia Zrt.
Location
Description
Partial counterguarantee of Garantiqa's 80% guarantee of Hungarian banks' long-term loans extended to Hungarian municipalities, municipal associations, multi-purpose small-area associations or municipal companies for projects eligible for EIB financing.
Objectives
The proposed operation intends to make access to loan facilities easier for local public entities in Hungary, especially the smaller ones, which do not have the collateral necessary for borrowing. The operation would therefore promote EU objectives for local public sector projects in Hungary, which cannot otherwise be achieved by EIB.
Sector(s)
Proposed EIB finance (Approximate amount)
Up to HUF 13 500 million. (EUR 50.60 million).
Total cost (Approximate amount)
Not applicable.
Environmental aspects
Garantiqa will be required to require the financial Intermediaries to ensure compliance of projects financed under the loan with applicable national and EU legislation.
Procurement
Garantiqa will be required to require the financial Intermediaries to ensure compliance of projects financed under the loan with applicable national and EU legislation.
Status
Signed - 29/11/2010
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).