articleimg-1
Apr 16, 2020

Hungarian government to launch new export support and investment promotion program

The foreign minister said the scheme will see Hungary’s Eximbank launch three new products for businesses.

The Hungarian government will soon introduce a new export support and investment promotion program. Péter Szijjártó, Minister of Foreign Affairs and Trade, said the scheme will see Hungary’s Eximbank launch three new products for businesses.

The minister said preferential loans will be available to companies for investments. The bank will also offer working capital loans and the interest rate on the loan will be 0.1 percent for small businesses that apply for it within a year.

In addition, Eximbank will launch a guarantee and insurance scheme that will enable businesses to maintain their commercial bank loans and shield them from the negative effects of late payments in export markets.

The European Union has also allowed governments to provide up to 800,000 euros in liquidity to businesses hit by the coronavirus crisis. The minister said the government has therefore approved a scheme to support the investments of exporting companies operating in Hungary with grants worth up to 800,000 euros, adding that the grant may cover up to 50 percent of the total investment value.