EIB signed loans worth EUR 700 m with Hungary in 2017 to promote SMEs

• European Investment Bank (EIB) loans in Hungary slightly increased to c. EUR 700 million, representing approximately 0.6% of country’s GDP
• EIF commitment jumped to EUR 70 m
• As a result, EIB Group actively supported small & medium enterprises, export-oriented companies, education, urban development and telecommunication projects
• EIB Investment Survey shows that Hungarian firms on average expect to increase their investment on a year-on-year basis

In 2017, The EIB Group, comprising the European Investment Bank (EIB) and the European Investment Fund (EIF), increased its commitment in Hungary in terms of both lending and guarantees and investments. Loans granted by the EIB reached EUR 702 million, an increase of approximately 3% year on year, while guarantees and investments by the EIF amounted to EUR 70 m, a very significant increase from previous year (EUR 10m)

EIB loans represent 0,63% of the country GDP, versus a EU average of 0,46%, showing the significant impact that the EU bank’s financing has on the Hungarian economy.

EIB Vice-President Vazil Hudak, responsible for the Bank’s operations in Hungary and Cohesion countries, informed Hungarian journalists about the European Union bank’s performance in Budapest today and stressed that the EIB sees a greater room for the bank’s engagement in the Central European country. In particular the bank is interested to boost financial support and deploy advisory & expert services leading to an increased use and absorption of available resources.