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Hungary signs 400 million euros EIB loan for rural development

Hungary signs 400 million euros EIB loan for rural development

Economy Minister Mihály Varga has signed an agreement with the European Investment Bank on a credit line of 400 million euros for rural development projects.

The funds will contribute to the production of higher value-added goods and the development of businesses in farming, forestry, and food processing through financing projects in Hungary’s state-assisted Rural Development Programme, Varga said.

EIB vice-president Vazil Hudak said the bank sought to support traditional economic sectors and help preserve jobs, reduce geographic differences and improve living standards.

Source: MTI

Fina Aristic

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