Juncker Plan supports €67 million for SMEs in Hungary

 The European Investment Fund (EIF) and Erste Bank Hungary have signed a guarantee agreement to support €67 million of loans and leases to innovative Hungarian companies. The agreement was made possible by the support of the European Fund for Strategic Investments (EFSI), the central pillar of the Investment Plan for Europe, the Juncker Plan. Today's €67 million transaction is expected to benefit around 350 businesses in Hungary.Commissioner for Education, Youth, Culture and Sport, Tibor Navracsics, said: "Small and medium-sized businesses are the backbone of the Hungarian economy. They need better access to affordable and long-term finance in order to continue to grow, to export to other European markets and create new jobs across the country. The agreement signed today is an important step, but many more businesses in Hungary could benefit from similar advantages. I therefore encourage them to apply in order to receive support from the Investment Plan for Europe.”(Full press release is found here.

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