European financing helps Hungarian business like Agroloop grow, boosting innovation, jobs, and digitalisation

Rajmond Percze always wanted to build a business that would be a sustainable role model. He never imagined it would be focused on insect manure. At a conference in the Netherlands, he saw how insects efficiently turn biomass into valuable feed ingredients, and he seized on the opportunity to revolutionise farming practices in Hungary. Together with István Sándor Nagy and Marcell Lipták, Percze founded Agroloop in 2020. The company uses the larvae of the black soldier fly, which convert organic feed into valuable resources for the agricultural ecosystem. All with minimal environmental impact.

“Thanks to their protein composition, our feed ingredients can boost animal health and reduce mortality rates especially in livestock farming,” Percze says. “The fertiliser is organic and can be put into soil, boosting the microbiome and reversing its degradation.”

When Agroloop needed to grow, it took a loan that was ultimately backed by the European Invesment Fund, an EU body that finances small and medium-sized businesses.

In 2021, Hungary was home to 892 106 enterprises, 99.89% of which were classified as small or medium-sized. They are the backbone of the Hungarian economy, accounting for 75% of total employment, and they contribute significantly to economic output, generating 61% of value added

“This agreement allows us to support more innovative and green businesses, offering them competitive pricing and less collateral damage,” says Anita Laurinyecz, director at UniCredit Bank Hungary. “We are able to reach out to more markets and more companies.”

The European Investment Fund, part of the EIB Group owned by the 27 EU member states, signed €370 umbrella guarantees in 2023 with UniCredit Group to boost investment in small and medium-sized businesses in eight countries, including Hungary. That’s just one of many investments in Hungary by the European Union’s financing arm. Last year, we invested €490 million in Hungary.

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