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The European Investment Bank (EIB) Group backed economic and social growth and the development of vital infrastructure in Hungary in 2018 with EUR 891m. The transport, energy and social sectors and urban infrastructure were among the key drivers of the EIB Group’s activities in Hungary.

It was a record-high year for European Investment Fund (EIF) activities in Hungary as well as for the European Fund for Strategic Investments (EFSI).

In 2018, EIB Group financing in Hungary, consisting of loans from the EIB and equity investments and guarantees from the EIF, amounted to EUR 747m and EUR 144m respectively, a record high for the EIF in Hungary and an increase of 104.7% year-on-year.

EIB investments in Hungary grew to EUR 747 million.  EIB lending in Hungary grew 6.4% year-on-year to EUR 747m in ten projects implemented throughout the country. EIB Group financing went mostly to the transport (EUR 276m), energy (EUR146m) and social sectors (EUR142m) as well as to urban infrastructure (EUR 85m).

Students in Hungary also benefited from EIB activities, as the EU bank signed a EUR 50m loan to Diakhitel enabling easier access to higher education though favourable loans for tuition and housing during studies.

To further speed up the economic development of Hungary and cohesion of Hungarian regions, the EIB also signed six projects worth EUR 225m under the EIB cohesion support package for Hungary for 2014-2020 worth EUR 725m. This included cohesion financing for services sector, water and sewerage, transport, urban development, solid waste and energy projects.

Record-high EIF support for jobs and SMEs in Hungary for fifth year in a row.  The European Investment Fund posted its fifth consecutive record year in Hungary, more than doubling its financing operations compared to 2017, from EUR 70.1m to EUR 144m. The EIF contributed to Hungarian economic growth by supporting nine projects, relating to 6,000 Hungarian SMEs and sustaining around 63,000 Hungarian jobs. EIF transactions in the country are expected to mobilise investments in excess of EUR 608m.

European Fund for Strategic Investments (EFSI).  In 2018 the EIB achieved another record by contracting EUR 355.4m under the European Fund for Strategic Investments (EFSI) in Hungary, the highest amount to date. EFSI approved EUR 548m worth of transactions, expected to trigger EUR 2.4bn in total financing in Hungary alone.

EFSI activities will increase the competitiveness of Hungarian companies at the European and global level, help Hungarians contribute to European research development and innovation, improve the quality of air and heating, and increase the comfort of traveling while maintaining high security standards at the biggest airport in the country.

The European Fund for Strategic Investments (EFSI) is the financial pillar of the “Juncker Plan”, launched by the European Commission and the EIB in 2015 to help attract public and private investments into projects by taking on a higher risk than is usual for EIB lending activity.

EIB advisory services continue to provide valuable assistance – from SME support to high-speed trains.  The European Investment Bank’s advisory services continued to provide advisory assistance to its Hungarian counterparts. The European Investment Advisory Hub (EIAH) has received 21 consultancy requests to date, and works with the Hungarian Development Bank (MFB) to develop advisory services and promote knowledge and best practice in the advisory sphere. Together with the Hungarian Development Bank, the EIB is working to establish a dedicated advisory and support service for the preparation and implementation of investment plans.

At the same time, EIAH is working on the development of the Visegrad Advisory and Investment Platform, designed to attract investment in V4 countries for capital projects including the high-speed rail link between the V4 capitals.

Other advisory services actively engaged in Hungary include European Local Energy Assistance (ELENA), with two ongoing projects in Hungary aiming to mobilise EUR 233 million. Financial Instruments Advisory (FIA), Joint Assistance to Support Projects in European Regions (JASPERS) and InnovFin Advisory (IFA).