The European Investment Bank (EIB) is contributing EUR 200 million to the implementation of EU-funded economic development programmes, Minister for National Economy Mihály Varga said after signing the agreement with EIB Vice President Vazil Hudak.
This agreement is related to the second tranche of an EU credit line of EUR 1.5bn approved in 2015, which has been aimed at the re-financing of domestic fiscal resources used for EU-funded projects, he pointed out. Of the first tranche, EUR 500 million, an agreement had been concluded already two years ago. The credit line made available for the programming period 2014-2020 Hungary can use for the financing of own funds required for four operational programmes: the Economic Development and Innovation Programme, the Competitive Hungary Programme, the Regional and Settlement Development Programme and the Human Resources Development Programme, the Minister noted.
Mihály Varga stressed that the EIB had found the progress made in the implementation of these programmes satisfactory, they had been contented with the utilization of funds, and thus they agreed to provide the loan of EUR 200 million for the realization of the objectives set earlier. These funds, in harmony with EU programme guidelines, are designed to contribute to the capacity expansion of micro-, small- and medium-sized enterprises, job creation, the development of industrial parks, brownfield industrial projects as well as efforts aiming to make Hungary even more attractive as tourism destination. The deal helps us implement more economic stimulus measures and settlement development projects, and it assists the transition to an economy of low carbon emission. The credit line is also designed to help support disadvantaged jobseekers, Mihály Varga said.
(Ministry for National Economy)
