Hungary’s Home Renovation Programme gets a boost from EIB green loan

Copyright : EIB

(IN BRIEF) The European Investment Bank (EIB) and the European Investment Fund (EIF) invested €804 million in Hungary last year, supporting priority investments in energy, transport, innovation, small and medium-sized enterprises (SMEs), and mid-caps. Three-quarters of the total financing signed across these sectors supported climate action and environmental sustainability. In particular, the EIB supported Hungary’s Home Renovation Programme launched in 2021, backing the energy-efficient refurbishment of residential buildings and the installation of domestic renewable energy systems across the country. The EIB also provided targeted support for eco-friendly regional buses and trains and made €100 million available to small and medium-sized enterprises and mid-caps through a partnership with EXIMBANK. Additionally, EIB advisory services provided tailored support for public and private entities related to sectors such as climate change, transport, and research and development. Since 2006, JASPERS alone has helped prepare investment projects worth close to €22 billion in transport, water, health, research, circular economy, and other sectors.

(PRESS RELEASE) LUXEMBOURG, 3-Apr-2023 — /EuropaWire/ — The European Investment Bank (EIB), the lending arm of the European Union, announces that last year, together with the European Investment Fund (EIF), has signed a €804 million in new financing for priority investments across Hungary. In 2022, the EIB continued to invest in energy, transport, innovation, small and medium-sized enterprises (SMEs), and mid-caps. Three-quarters of the total financing signed across these sectors supported climate action and environmental sustainability.

The EIB supported Hungary’s Home Renovation Programme launched in 2021, backing the energy-efficient refurbishment of residential buildings and the installation of domestic renewable energy systems across the country. This project aims to make energy saving investments in homes and is part of Hungary’s efforts to promote sustainability. The EU bank also provided targeted support for new safer, more comfortable, and eco-friendly regional buses and trains and to improve the country’s road network.

In addition, the EIB made €100 million available to small and medium-sized enterprises and mid-caps by partnering with EXIMBANK. The partnership will enable EXIMBANK to provide financing at competitive and accessible rates, expanding the number of potential beneficiaries.

“Our support for affordable energy-efficient homes, safer and cleaner public transport, and green financing for SMEs and mid-caps is helping Hungary accelerate the transition to a greener and more prosperous future that leaves no one behind,” said EIB Vice-President Teresa Czerwińska. “Looking ahead, the EIB Group is particularly focused on green investments in the railway sector, infrastructure development, energy, and financing for SMEs and mid-caps.”

The EIB advisory services provided tailored support for public and private entities related to sectors such as climate change, transport, and research and development. In January 2023, EIB experts had 27 active advisory assignments, with more than 140 closed to date. Since 2006, JASPERS alone has helped prepare investment projects worth close to €22 billion in transport, water, health, research, circular economy, and other sectors.

Overall, the EIB’s continued investment and advisory support in Hungary in 2022 reinforces the bank’s commitment to promoting sustainability and economic growth in the country.

Background information

The EIB has been working in Hungary since 1990, channelling more than €24 billion in financing to projects supporting the country’s economy. The EIB finances sound investment contributing towards EU policy goals. The EIB’s key priorities are climate and the environment, development, innovation and skills, small businesses, infrastructure and cohesion. It works closely with other EU institutions to foster European integration, promote the development of the European Union and support EU policies in more than 120 countries worldwide.

Since its inception, the EIF has provided financing worth €289 million through 29 contracts in Hungary. These investments are expected to leverage approximately €2.5 billion in financing, and have so far supported more than 147 000 jobs. The EIF is part of the EIB Group. Its central mission is to support Europe’s microenterprises and SMEs by helping them to access finance. The EIF designs and develops venture and growth capital, guarantees and microfinance instruments that specifically target this market segment. In this role, the EIF contributes to the pursuit of key EU policy objectives such as competitiveness and growth, innovation and digitalisation, social impact and inclusiveness, skills and human capital, climate action and environmental sustainability.

MEDIA CONTACT

De Francesco Eva
eva.defrancesco@eib.org
+352 4379 – 86637

press@eib.org
+352 4379 – 21000

SOURCE: European Investment Bank