The social development bank in Europe

News

Hungary and the CEB sign two loan agreements to support the social and economic development of the country's South and North-Eastern parts

19 May 2008

PARIS - On 19 May 2008, Hungary and the CEB signed two loan agreements for a total amount of € 126 million:

• The first loan, amounting to € 71 million, is aimed at financing investments to promote the economic and social development of the North Great Plain Region (Észak-Alföld).

This is the CEB's first operation in favour national authorities for a European Union Operational Programme. The Operational Programme provides a comprehensive long-term development framework for Hungary’s poorest region. It reflects the region’s specific needs, including a focus on vulnerable populations and on investments to promote economic development and to improve social services in less developed municipalities in the region.

• The second loan, amounting to € 55 million, is aimed at financing investments to promote the economic and social development of the South Great Plain Region (Dél-Alföld).

This other CEB operation under an EU Operational Programme aims on the one hand to increase the competitiveness of the regional economy, leading to the creation and preservation of jobs; and on the other hand to increase regional cohesion by improving the public infrastructure which determines living conditions for the population.

Through these two operations, CEB funds will reach beneficiaries throughout South and North-Eastern Hungary, and will contribute to the economic catch up of the two regions concerned.


Related sector
Related country