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Family Min: Banks Disburse HUF 1,000 Billion of Prenatal Baby Support Credit

MTI-Hungary Today 2020.12.04.

Banks have disbursed 1,000 billion forints (EUR 2.8bn) of prenatal baby support loans to more than 120,000 applicant couples since the launch of the government scheme in July 2019, Katalin Novák, the minister for family affairs, said on Facebook on Friday.

The unsecured, interest-free, general-purpose prenatal baby support loans up to 10 million forints for families having children are part of a package of family support measures designed to address the problem of depopulation and are available until the end of 2022.

'Successful Family and Economic Policies Go Hand in Hand' - Family Affairs Minister Novák at the Hungary at First ‘Site’ Conference
'Successful Family and Economic Policies Go Hand in Hand' - Family Affairs Minister Novák at the Hungary at First ‘Site’ Conference

Although the challenge of stopping demographic decline sometimes seems “almost impossible,” Hungary decided to move forward with its policies to help families have as many children as they want, Katalin Novák, the minister for family affairs said on Tuesday at the international “Hungary at First ‘Site‘” press conference organized by the Friends of Hungary Foundation, […]Continue reading

Novák noted that after the 12th week of pregnancy, borrowers can automatically have the repayments on the loan suspended for three years. After the birth of the second child, the repayment can be suspended and the remaining debt can be reduced by 30 percent. Couples who have a third child can have the full amount of their remaining debt cancelled, she said.

Featured photo by Lajos Soós/MTI