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CEB and Hungary sign a €152 million loan increase to finance ongoing COVID-19 measures

18 août 2021

PARIS  - The Council of Europe Development Bank (CEB) and Hungary’s Ministry of Finance have signed a €152 million loan agreement to provide medical services to those affected by COVID-19. This additional financing complements a loan approved in 2020 to support the country’s pandemic response, bringing the total amount to €327 million.

Despite a well-advanced vaccination drive funding for additional preventive and diagnostic supplies remains an issue for Hungary, with budgetary spending for COVID-19 measures in 2021 estimated at more than half a billion euros. The additional funding from the CEB will cover eligible budgetary health expenditures and essential measures foreseen under the state of emergency, including medical supplies needed in the continuous fight against the pandemic.

The CEB’s Administrative Council had approved an initial loan request of €175 million to Hungary in April 2020. The entire amount was rapidly and completely disbursed to partially cover COVID-19 related expenditures incurred during the fiscal year 2020.

Through investments carried out by the Ministry of Foreign Affaires and Trade as well as the National Health Services Centre the CEB loan partially financed, among others, the purchase of:

  •       6,8 million tests
  •       More than 223 million PPE and face masks for medical staff
  •       84,500 laboratory diagnostic equipment
  •       10,070 vital signs monitors

“This is the second CEB loan provided to strengthen the Hungarian healthcare system and its capacity to protect Hungarians from the COVID-19 pandemic. Now Hungary is prepared for a possible fourth wave of the epidemic,” said the Minister of Finance  Mihály  Varga.

Signing the loan on behalf of the CEB, Vice-Governor Carlo Monticelli commented: “This additional loan will support the Government of Hungary to further its efforts in addressing urgent needs in the health sector. Providing medical support to those affected by COVID-19 and medical personnel in the first line of defence will protect the country’s population and ultimately save lives.”

Fondée en 1956, la CEB (Banque de Développement du Conseil de l'Europe) compte 42 États membres, dont 22 pays d'Europe centrale, orientale et du Sud-Est formant les pays cibles de la Banque. En tant qu'instrument majeur de la politique de solidarité en Europe, la Banque finance des projets sociaux en mettant à leur disposition des ressources levées dans des conditions reflétant la qualité de sa notation (Aa1 auprès de Moody's, perspective stable, AAA auprès de Standard & Poor's, perspective stable, AA+ auprès de Fitch Ratings, perspective positive et AAA* auprès de Scope Ratings, perspective stable). Elle accorde des prêts à ses États membres, à des établissements financiers et à des autorités locales pour le financement de projets dans le secteur social, conformément à son Statut.
*non-sollicité

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