The European Bank for Reconstruction and Development (EBRD) and the Council of Europe Development Bank (CEB) will extend a Euro 30 million loan for the development of Hungarian SMEs, the EBRD said.

CIB Bank Rt and its leasing company will receive the loan.

CEB is providing a Euro 20 million loan for SME infrastructure investments and equipment purchases.

In January, the EBRD approved a Euro 20 million loan package to Budapest Leasing Rt from a joint EBRD-Phare financing program.

(BBJ 9.ii.04)