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The program comprises an additional HUF 145 billion to be used for enterprise development purposes, in addition to the HUF 165 billion in already existing such programs that will now be incorporated into the new program.
In addition, HUF 60 billion will be available for local governments for infrastructure development purposes, and HUF 40 billion will be targeted for agricultural developments.
Businesses will be eligible for a minimum loan of HUF 5 million, while the maximum available loan will be HUF 1 billion. The loans will have a maximum run of 15 years with a maximum two-year grace period. The loans will carry annual interest of Euribor plus 4%.
The local council credit program will target the renovation of schools and environmental projects. The loans will also be available for the implementation of the so-called "Public Treasures Program." The farming loans will be used to assist young farmers starting out, agricultural processing businesses and various agricultural development projects.
