EIB Committed EUR 804 Mn to Support Hungary in 2022

The European Investment Bank (EIB) provided climate finance totalling more than EUR 600 million in 2022 to accelerate the green transition in Hungary, the EIB reports.

In 2022, the EIB’s operations in the country included financing for energy, transport and innovation, and small and medium-sized enterprises (SMEs) and mid-caps. Three-quarters of total financing signed across these sectors supported climate action and environmental sustainability. In particular, the EIB backed the energy-efficient refurbishment of residential buildings and the installation of domestic renewable energy systems across the country. This project aims to make energy saving investments in homes and is part of Hungary’s Home Renovation Programme launched in 2021. It adds a second tranche to an EIB green loan signed in 2021 and supports different types of energy-efficient renovations and upgrades.

The EU bank also provided targeted support for new safer, more comfortable and eco-friendly regional buses and trains and to improve the country’s road network. In addition, the Bank made EUR 100 million available to small and medium enterprises and mid-caps by partnering with EXIMBANK. The partnership will enable EXIMBANK to provide financing at competitive and accessible rates, expanding the number of potential beneficiaries.

“Our support for affordable energy-efficient homes, safer and cleaner public transport, and green financing for SMEs and mid-caps is helping Hungary accelerate the transition to a greener and more prosperous future that leaves no one behind,” EIB Vice-President Teresa Czerwińska said. “Looking ahead, the EIB Group is particularly focused on green investments in the railway sector, infrastructure development, energy, and financing for SMEs and mid-caps.”

In 2022, EIB advisory services provided more tailored advisory support for public and private entities related to sectors such as climate change, transport, and research and development. In January 2023, EIB experts had 27 active advisory assignments, with more than 140 closed to date. Since 2006, JASPERS alone has helped prepare investment projects worth close to EUR 22 billion in transport, water, health, research, circular economy and other sectors.