Hungarian ministry reveals tally for Baross Gábor Reindustrialisation Loan Programme
In the HUF 1 trillion Baross Gábor Reindustrialisation Loan Programme launched on 1 February,
- HUF 839 billion in loan applications have been approved,
- with contracted loans worth HUF 641 billion and
- disbursements exceeding HUF 380 billion so far,
the Ministry of Economic Development announced on Wednesday.
The statement also said that Minister of Economic Development Márton Nagy visited the Budapest headquarters of HRP Europe Ltd. and Biotech USA Ltd., both borrowers in the programme, where he held talks with the heads of the two companies.
The 700 billion forints of the Baross Gábor Reindustrialisation Loan Programme was exhausted in one month, and the government has increased the amount of funds available to HUF 1,000 billion.
The success of the loan programme stems from the fact that in the current high interest rate environment,
funds are available at a fixed interest rate until the end of the loan term, which is very favourable for businesses, typically at a maximum level of 6% for HUF loans and 3.5% for Euro loans.
Eximbank reported today that it closed 2022 with its highest loan disbursements ever: the total value of loan disbursements was HUF 567 billion, with refinancing loans amounting to HUF 480 bn. The bank's balance sheet total exceeded HUF 2 trillion at the end of the year, up by nearly 30% in annual terms, and after-tax profit exceeded the previous year's level by HUF 0.8 bn, reaching HUF 2.25 billion.
