Hungarian Armed Forces get 348.5 million euros for developments
Norway is providing Hungary with 348.5 million euros of financing with a view to strengthening Hungary’s combat defence capabilities through Export Credit Norway (ECN) and the Norwegian Export Credit Guarantee Agency (GIEK), the Ministry of Finance said on Wednesday.
The credit is tied to the 410 million euro NASAMS contract concluded by Hungary and Norwegian supplier Kongsberg Defense and Aerospace AS last November.
The financing is cheap and will help to keep the public debt curve favorable while giving the country broader debt-management foundations, the ministry said.
The ministry said the credit framework applies within the country’s ZrÃnyi Defence and Armed Forces Development Programme, “the largest and most comprehensive defence programme of the past 25 years”.
Read alsoThis is how the newest aircraft of the Hungarian army looks like – VIDEO
please make a donation here
Hot news
PHOTOS: Hungary’s most expensive hamburger, the Hundredbuck$Burger of Szeged
Meteorologists predict snow across multiple Hungarian regions next week
Steven Bartlett at SIBF 2024: From business success to fatherhood dreams
Ukrainian county inhabited by Hungarians, Transcarpathia, under Russian attack!
Hungary’s universities break through in 2024 Shanghai Rankings—Which ones are top 200?
Slovak PM Fico may sacrifice his good relations with PM Orbán to keep his governing coalition
