Via financing central budgetary expenditures with favourable conditions, the project financing contracts will significantly contribute to completing education- and healthcare-related investments implemented within the framework of the Social Renewal and Social Infrastructure Operational Programmes of the New Hungary Development Plan as well as to the financing of scientific research and certain other investments of the Hungarian Academy of Sciences.

The EIB resources, provided under favourable financial conditions with the aim of supporting economic development, will enable long-term, low-interest financing of budgetary expenditures related to investments. They will also improve the current and future structure of general government debt, which is projected to decline steadily. Along with providing favourable financial conditions the EIB has been pivotal for the efficient application of EU subsidies and thus also for boosting the economy.

Among international development institutions the EIB has been the most active in the field of project financing in Hungary. The relationship between Hungary and the EIB dates back to more than two decades and in this period the bank has granted funding in excess of 15 billion EUR for the financing of several Hungarian development projects. In the past three years the EIB has contributed more than 1.3 billion EUR to the completion of domestic projects, primarily in the fields of environmental protection and transport infrastructure development, as well as in relation to the renewal of industry, energetics, telecommunication and education.

Source: kormany.hu