Hungary received hundreds of millions of euros from European bank

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The European Investment Bank Group, including the EIB and the European Investment Fund, supported Hungary’s economy with 490 million euros of new loans and guarantees in 2023, the EIB said on Monday.

Nearly two-thirds of the outlays supported climate action and environmental sustainability.

The EIB signed an agreement with the Hungarian Development Bank (MFB) committing 100 million euros to support energy efficiency investments and renewable energy projects. It also extended an additional 50 million euros for energy-efficient renovations and upgrades.

The EIB provided backing for a 40 million euro loan to SG Equipment Finance Hungary to offer new financing for SMEs and mid-caps, mainly in the industry and services sector, with a focus on green investments.

A 200 million euro loan agreement, co-financing the Hungarian Rural Development Programme, will boost sustainable development in farming, food production, and rural areas, the EIB said.

The lender provided 48 million in backing for rooftop solar panels.

The European Investment Fund committed 43 million euros in support for Hungarian businesses last year.

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