MFB has agreed to finance green investments with the European Investment Bank

MFB Hungarian Development Bank (MFB) and the European Investment Bank (EIB) have signed a financing agreement in Luxembourg to support projects aimed at increasing energy efficiency and using renewable energy sources, thus promoting transition to green economy. The EUR 100 million financial envelope by EIB will enable MFB to provide a wide range of financing for investments that contribute to reducing greenhouse gas emissions and energy costs, thus further strengthening competitiveness and sustainability.

The European Investment Bank considers the agreement signed with MFB a significant step in supporting environmental sustainability and climate action, which is aimed at providing support in financing investments in energy efficiency and renewable energy. Through the energy modernisation of buildings, the project plays an important role in reducing carbon emissions and air pollution, and reduces energy costs for final recipients. The cooperation is co-financed by the Council of Europe Bank (CEB); the expected total cost of the project is EUR 150 million.

“We proudly support, in cooperation with MFB, Hungary's transition to a more sustainable and energy efficient future. This initiative confirms our commitment to promoting economic growth, employment and environmental wellbeing in the region,” said Teresa Czerwińska, EIB Vice-President.

The agreement signed with EIB is a major step for MFB in expanding its green financing opportunities, and at the same time, it is an important feedback for MFB on being on the right track with its sustainability efforts in recent years. In recent years, MFB has taken a huge step towards energy efficiency transition. In autumn 2023, it published its Sustainability Report for the second time, and raised the issue of ESG financing to a strategic level.