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The European Bank for Reconstruction and Development (EBRD), established in 1991, to help the Central and Eastern European region catch up, said in its annual summary on Thursday that it has disbursed €137 million for 14 financing programs in Hungary for the whole of 2024. This means that last year, the value of new financing provided by the London-based financial institution to Hungary nearly doubled.
According to the EBRD, the Hungarian corporate sector received 55 percent of the total financing value, while the financial services sector received 45 percent. Within the Hungarian financial sector, the institution has participated in bond programs of banks such as OTP Bank, Erste Bank, UniCredit, and Raiffeisen.
Last year, the share of green investments within the framework of EBRD programs in Hungary reached 65 percent.
Anca Ionescu, director of the development bank’s programs in Hungary, said in a statement accompanying the summary that the EBRD’s activities in the Hungarian economy focus on capital market development and innovative investments, as well as investments to reduce emissions and increase the use of renewable energy sources.
The EBRD’s entire area of operations received a record amount of financing from the Bank last year, with €16.6 billion disbursed to the economies in its area of operations in 2024, 26 percent more than in 2023. Including co-financing, the Bank mobilized a total of €26.7 billion in capital for its member countries last year.
In 2024 we invested a record €16.6 billion across #EBRDregions.
Green financing at 58% hit an all-time high
47% of our projects were gender-related, another record.More than €2 billion were deployed in support of Ukraine.
Total mobilisation exceeded €26 billion. pic.twitter.com/kjZ9gDHvgP
— The EBRD (@EBRD) January 9, 2025
The number of programs financed by the EBRD also reached a record high, with 584 transactions in its area of operations in 2024.
Private sectors in beneficiary economies accounted for 76 percent of EBRD financing last year, with EBRD capital for private companies amounting another record €12.5 billion. In 2023, the EBRD disbursed €13.1 billion in financing to 464 programs in the economies in its area of operations.
The institution provided €2.4 billion in assistance to Ukraine last year, up from €2.1 billion a year earlier. The bank also said it had mobilized an additional €2.6 billion in funding from donor peers for Ukraine since the outbreak of war in 2022. Of EBRD financing since 2022, €2 billion has been disbursed by the Bank to Ukraine’s energy sector.
Via MTI, Featured image: Pixabay