EXIM has so far disbursed HUF 1,000 billion under the Baross Gábor Loan Programme

Over 80 percent of the HUF 1,200 billion total allocation has been received by Hungarian enterprises

EXIM Hungary has already disbursed 84 percent of the total HUF 1,200 billion allocation of the Baross Gábor Reindustrialisation Loan Programme, i.e. HUF 1,011 billion, to Hungarian enterprises. The loan programme, which offers favourable financing conditions, has so far contributed to the development and competitiveness of 1,436 Hungarian companies. The programme is not only one of EXIM’s most successful products in its 30 years of existence, but also plays a key role in supporting Hungarian economic growth. In the almost two years since the launch of the loan programme, 3,707 contracts have been signed and 51% of the funds have been allocated to the domestic SME sector.

The disbursements related to the Baross Gábor Re-industrialisation Loan Programme increased by HUF 200 billion this year are on schedule. EXIM Hungary has reached a new milestone, with disbursements exceeding HUF 1,000 billion, which represents more than 80 percent of the total HUF 1,200 billion envelope.

Applications for the additional HUF 200 billion were most recently open from 15 January. By mid-February, the increased envelope was fully covered by loan applications and by June, EXIM Hungary also signed the contracts with the Hungarian companies.

The funds disbursed through EXIM Hungary provide Hungarian companies with access to loans on favourable terms, with interest rates of up to 5% in HUF and 3% in EUR, and a maximum ten-year term. The loan programme is open to companies operating in the food, construction, telecommunications, pharmaceuticals, tourism and hospitality, automotive and logistics sectors.

A total of 3707 contracts were signed under the loan programme: 472 investment loan contracts, 898 working capital loan contracts and 2337 leasing contracts were signed by the participating companies. More than 99 per cent of the loans signed were obtained through banking partners refinanced by EXIM. An analysis of the signed transactions shows that 71 percent of the clients are from the SME sector, the majority of which are companies in Central Hungary. 70 percent of the loans contracted are based on euro.

From the outset, it was clear that there was indeed a huge demand for concessional financing. The success of the Baross Gábor Reindustrialisation Loan Programme is indisputable: over the past two years, out of a total budget of HUF 1,200 billion, we have helped 1,436 Hungarian companies to strengthen their competitiveness and launch investments, which has also contributed to boosting the economy and corporate lending. We have thus implemented one of the largest loan programmes in Hungary’s history. It is also one of the most outstanding achievements in EXIM Hungary’s 30-year history.

-said Dr Adrienn Berta, Deputy CEO for Business Operations of EXIM Hungary.

EXIM Hungary launched the loan programme in February 2023 with a HUF 700 billion budget according to the Government’s decision. Within a short period of time, the programme attracted huge interest, and the original budget was increased to HUF 1,000 billion. Subsequently, the Baross Gábor Reindustrialisation Loan Programme was continued at the beginning of 2024 with an additional HUF 200 billion, bringing the total amount to HUF 1,200 billion. Between March 2023 and December 2023, more than a quarter (28%) of new corporate loan contracts, HUF 868 billion, were loans signed under the programme.