Hungary's Eximbank to provide loans to help exporters

BUDAPEST Wed Feb 5, 2014 3:50am EST

Related Topics

BUDAPEST Feb 5 (Reuters) - Hungary's state-owned Eximbank has signed a deal with 12 commercial banks operating in Hungary to provide loans with a maximum two-year maturity for small and medium sized businesses to boost exports, Eximbank and the Economy Ministry said in a statement on Wednesday.

The euro-denominated loans will have a maturity of minimum 6 months and maximum 2 years, will carry a fixed, favourable interest rate, and will serve to prefinance exports.

Including this new credit instrument, Eximbank has a total credit line of over 600 million euros ($810.62 million) to provide financing for domestic exporters and this can be expanded, Eximbank and the ministry said in the statement.

($1 = 0.7402 euros) (Reporting by Krisztina Than. Editing by Jane Merriman)