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The European Investment Fund (EIF) and Erste Bank Hungary, have signed a guarantee agreement to support € 67 million of loans and leases to innovative Hungarian companies. The agreement was signed under the European Commission’s InnovFin initiative, backed by the EU's research and innovation programme Horizon 2020.

The agreement was made possible by the support of the European Fund for Strategic Investments (EFSI). The EFSI is the central pillar of the European Commission's Investment Plan for Europe, the so-called "Juncker Plan".

 

Erste Bank Hungary will be incentivized to provide loans and leases to innovative SMEs and small mid-caps on more favourable terms. Today's EUR 67 million transaction is expected to benefit around 350 businesses.

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