Hungary's National Bank Adds Ft 2 Trillion To Stimulus Lending Program
- 12 Sep 2013 9:00 AM
The MNB will expand its funding for growth scheme by an additional Ft 2 trillion and extend it until the end of 2014, governor György Matolcsy announced on Wednesday. The programme was launched in June with Ft 750 billion. The extension of the scheme could add 1.8-2.4% to GDP in 2014, Matolcsy told reporters.
The conditions of the lending programme will not change, as the MNB will continue to offer zero-interest loans to banks to be lent to SMEs at rates of no more than 2.5% for up to 10 years.
Source: Hungary Around the Clock
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