DIAKHITEL - STUDENT LOAN IV

Promoter – Financial Intermediary

DIAKHITEL KOZPONT ZRT

Location

• Hungary

Description

Financing part of the costs of third level studies by providing loans to higher education students through Diákhitel Központ Rt. (Diákhitel).

Objectives

This student loan is in line with the EU priority objective of employment and growth, as it supports access to higher education to an estimated 14% of the qualified Hungarian students, who would not have otherwise the means for financing Higher Education studies. As a result, significant benefits will accrue to Hungarian graduates not only in terms of job opportunities, but also in terms of earnings and thus value-added to the national economy. The operation is taking place at a time of persistent economic crisis. Hungary is facing an unemployment rate of 12%, affecting unevenly the young population, which exhibits an unemployment rate of 26.1%.

Sector(s)

• Education

Proposed EIB finance (Approximate amount)

EUR 140 million

Total cost (Approximate amount)

EUR 283 million

Environmental aspects

The project does not comprise any capital investment in new research infrastructure. In the light of this and of its immaterial nature, the project does not fall under any of the annexes of the Directive 2011/92/EU and therefore does not need an Environmental Impact Assessment.

Procurement

The Bank will require the Promoter to ensure that contracts for implementation of the project (if any) have been/shall be tendered in accordance with the relevant applicable EU procurement legislation (Dir 2004/18/EC or 2004/17/EC and Dir. 2007/66/EC), with publication of tender notices in the EU Official Journal, as and where appropriate.

Status

Signed - 21/03/2013