MFB signs for EUR 100m EIB credit

MFB may call down the loan in at most five tranches of EUR 20m apiece by December 31, 2010. The financing may be used for lending to companies with no more than 3,000 employees, and loans must be made directly by MFB. The conditions for the EIB loan are more favourable than market conditions, MFB director Gyorgy Szelenyi said when asked by MTI. The loan agreement is the sixth between MFB and EIB: MFB borrowed ECU 10m from the bank in 1998 and EUR 50m to support SME-financing in 2003. In 2005, 2006 and 2007, the bank took out EUR 100m each year from the EIB to finance an infrastructure development programme for local councils and the „New Hungary” business development programme.

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