EXIM has so far disbursed around HUF 1,000 billion in the Gábor Baross loan program

By: Trademagazin Date: 2024. 10. 21. 11:32

EXIM Hungary has already disbursed 84 percent, HUF 1,011 billion, of the total amount of HUF 1,200 billion of the Baross Gábor Újraiparosítási Hitelprogram to Hungarian businesses, the credit institute told MTI on Monday.

They pointed out that the loan program, which offers favorable financing conditions, has so far contributed to the development and strengthening of the competitiveness of 1,436 domestic companies.

They added that the disbursements related to the Gábor Baross Reindustrialization Loan Program, with a budget increased by HUF 200 billion this year, are progressing according to schedule.

Applications could be submitted for the 200 billion HUF additional resource from January 15. By the middle of February, the increased limit was fully covered by the submitted loan applications, and by June, EXIM had concluded the contracts with the Hungarian companies, they wrote in the announcement.

It was explained that thanks to the disbursed funds, through EXIM Hungary, domestic companies can obtain loans under favorable conditions, with an interest rate of up to 5 percent in forints and up to 3 percent in euros, with a term of up to ten years.

Companies operating in the food industry, construction industry, telecommunications, pharmaceutical production, tourism and hospitality, automotive industry, and logistics sectors could apply for the loan program.

It was detailed that a total of 3,707 contracts were created within the framework of the loan program, and the participating companies signed 472 investment loan contracts, 898 working capital loan contracts, and 2,337 leasing contracts.

More than 99 percent of the contracted loans were received through banking partners refinanced by EXIM.