The European Investment Bank (EIB) has signed an agreement with Hungary on a 146 million euro loan to support the country’s procurement of protective equipment in preparation for a potential fourth wave of the coronavirus pandemic, the finance ministry said in a statement.
The ministry noted that the EIB had already approved a 162 million euro loan for Hungary last summer.
Hungary is being given the loan on favourable terms, the ministry said, adding that it will save the budget a significant amount of funds while supporting the country’s pandemic defence efforts.
The government has so far spent up to 1,200 billion forints (EUR 3.37bn) on pandemic response measures and will continue to provide the funding necessary to defend against the virus, it added.
Featured photo illustration by Mohai Balázs/MTI