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Hungary's Eximbank to provide loans to help exporters
February 5, 2014 / 8:52 AM / in 4 years

Hungary's Eximbank to provide loans to help exporters

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

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