articleimg-1
Apr 05, 2017

The National Bank of Hungary ends funding for growth program

Around 40,000 Hungarian small and medium-sized firms received a total of 2.8 trillion HUF (9.66 billion USD) worth of financing under the loans program that the central bank launched in 2013

The National Bank of Hungary has ended its massive funding for growth program, it has been announced.

According to Reuters, the bank said in a statement on Wednesday that in line with its earlier communication the program ended on March 31.

The bank said around 40,000 Hungarian small and medium-sized firms received a total of 2.8 trillion HUF (9.66 billion USD) worth of financing under the loans program that the central bank launched in 2013.

The bank said the program contributed around 2 percentage points to economic growth between 2013 and 2016. Businesses could sign contracts under the loans program until the end of March.