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Financial support will help purchase and install medical equipment, personal protective equipment, mobile units and an emergency container hospital related to the control of the coronavirus epidemic in order to increase the number of beds for the treatment of infected patients in Hungary. .
Tereza Czerwinska, EIB Vice President, said the EU Investment Bank aims to strengthen Europe’s health systems in the face of the challenges posed by the coronavirus epidemic.
We are ready to help Member States, including Hungary, to provide the best care for their citizens.
he said.
To solve the epidemic in the long term, the EU bank will spend 600 million euros (about 216 billion guilders) to support European companies involved in vaccination, treatment and diagnosis, he said.
The announcement quoted Finance Minister Mihály Varga as saying that he appreciated the EIB’s support to combat the epidemic and develop the capacity of Hungary’s health system and health infrastructure.
According to the EIB, the support will help Hungary cope more quickly with the effects of the epidemic, strengthen the national health system, and increase the country’s capacity to respond to major emergencies.
The EIB is the long-term lending institution of the European Union, owned by the EU Member States. It provides long-term financing for financially sound investments, thus contributing to the political objectives of the EU.
Since the start of the EIB’s operations in Hungary, the value of the Bank’s credit commitments in Hungary has approached EUR 21.6 billion. Between 2008 and 2018, the EIB signed € 13.2 billion in loan agreements. EIB investments cover important sectors of the Hungarian economy, including transport, environment, energy infrastructure, manufacturing and the service sector. Another important element of the bank’s activities in Hungary is loans to small and medium-sized enterprises (SMEs) through local financial institutions. Since 2001, the EU Bank has supported 5,172 Hungarian SMEs, which have retained 263,767 jobs.
Cover image: Getty Images
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