Release date: 6 September 2023
Promoter – Financial Intermediary
MINISTRY OF AGRICULTURE - HUNGARYLocation
Description
The Framework Loan will co-finance investment schemes supported by the European Agricultural Fund for Rural Development (EAFRD) within the Hungarian Common Agricultural Policy Strategic Plan (CAP SP) under the 2023-2027 EU funds programming period.
Additionality and Impact
By supporting the co-financing obligations in Hungary 2023-2027 under the European Agricultural Fund for Rural Development (EAFRD), the Project contributes to three of the EIB's primary policy objectives and to the horizontal policy objective of Economic and Social Cohesion. By supporting SMEs in the agricultural sector, the Project helps to ease financial constraints typically facing SMEs. The Project also supports rural development through a broad range of investments, including in basic rural infrastructure and services and moreover, it also contributes to the protection and sustainable use of natural resources. Overall it underpins the Hungarian CAP SP policy objectives of a green future, renewed countryside and sustainable economic development.
Objectives
The aim is to further improve the sustainable development of farming, food production and rural areas. It will also support investments in agriculture, processing, forestry, village infrastructure and small projects.
Sector(s)
- Agriculture, fisheries, forestry - Agriculture, forestry and fishing
- Water, sewerage - Agriculture, forestry and fishing
- Composite infrastructure - Construction
- Services - Professional, scientific and technical activities
Proposed EIB finance (Approximate amount)
EUR 400 million
Total cost (Approximate amount)
EUR 1249 million
Environmental aspects
The promoter will be required to comply with the relevant EU Directives, including the Strategic Environmental Assessment (SEA 2001/42/EC), Environmental Impact Assessment (EIA 2011/92/EU, amended by Directive 2014/52/EU), Habitats (92/43/EEC) and Birds (2009/147/EC) Directives and Water Framework Directive (2000/60/EC), as transposed into national law. The promoter will also be required to comply with EU directives concerning the related co-financed investments, including (but not limited) to the Industrial Emissions Directive 2010/75/EU and the EU Directive on Energy Performance of Buildings.
Procurement
The promoter has to ensure that contracts for implementation of the project are tendered in accordance with the applicable EU procurement legislation, Directive 2014/23/EU / 2014/24/EU / 2014/25/EU as well as Directive 92/13/EEC or Directive 89/665/EEC as interpreted by the EU Court of Justice, with publication of tender notices in the EU Official Journal, as and where required.
Status
Signed - 22/12/2023
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).