Hungary has been given access to funds worth sixty billion forints for the fight against the epidemic, Finance Minister Mihály Varga announced in a video message posted on his social media account, after he signed an agreement with the Council of Europe Development Bank (CEB). The Finance Minister said the preferential funding is available, among others, for the procurement of face masks, medicines, test kits, disinfectants and intensive care beds.

Hungary ranks among the most successful countries in the fight against the epidemic in Europe, to a large extent thanks to the measures adopted in a timely manner and the successful procurement of personal protective equipment. The direct grants and containment costs related to the epidemic reached HUF 600 billion, Mr Varga highlighted. He said while the danger has not gone away, and a state of disease control preparedness is being maintained, we must additionally prepare for a possible second wave of the coronavirus epidemic. Thanks to the agreement now signed, the CEB is providing funds to the value of EUR 175 million, the equivalent of more than sixty billion forints to cover the expenses of the central budget in connection with the epidemic, Mr Varga pointed out. He said the government will make available the expenses necessary for the containment effort fully and immediately also in the future. As a result, the procurement of medical and pharmaceutical supplies as well as the reinforcement of the health care system will remain guaranteed.

The CEB is the Strasbourg-based Council of Europe’s credit institution, the continent’s oldest international development bank established in 1956. So far, the bank has contributed to social developments in Hungary with funding worth more than EUR 2 billion; most recently, in June this year they provided HUF 50 billion for the construction of educational institutions.

(Ministry of Finance/MTI)