The European Investment Bank Group provided a total of 891 million euros to the Hungarian economy in 2021, a record volume of investments in the past five years, the EIB announced on Tuesday.
The group made up of the European Investment Bank (EIB) and the European Investment Fund (EIF) increased the volume of its operations in Hungary for the fifth consecutive year with loans of 880 million euros.
The EIF has invested millions of euros in Hungary – 5 million in equity and 6 million in guarantees to local public and private banks.
Since 2017, the EIF has invested around €306.5m in equity (€120.5m), guarantees (€185.4m) and inclusive finance (€0.6m). EUR).
EIB Group activities in Hungary channeled €701 million to accelerate the recovery of the Hungarian economy and fuel the public sector response to the pandemic.
The EIB provided 300 million euros in 2021 to the Hungarian government to co-finance the national home renovation program set up to improve the energy efficiency of homes.
It also provided €150 million to Diákhitel to help Hungarian students access student loans and support post-secondary and adult education programs.
The EIB has signed a €50 million deal with UniCredit Bank to unlock new sources of finance for Hungarian SMEs struggling with the effects of the pandemic.
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Over the past ten years, the EIB has invested approximately €10.4 billion in Hungary, the majority in lines of credit for local SMEs and ETIs. It has invested 1.76 billion in the development of the country’s transport sector and another 1.22 billion in the national health care sector. An additional 1.11 billion was invested in the education sector, 976.9 million in the service sector, 800 million in agriculture, 776 million in the energy sector, 605 million in industry and 571 million in water and wastewater management. Other sectors such as waste management, telecoms, composite infrastructure and urban development have received more than 1.05 billion euros from the EIB, he said.