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Erste's Hungarian unit gets EBRD loan.

Global Banking News-10 July 2009-Erste's Hungarian unit gets EBRD loan(C)2009 ENPublishing - http://www.enpublishing.co.uk

Global Banking News - 10 July 2009(c)2005 - Electronic News Publishing - http://www.enpublishing.co.uk

The Hungarian unit of Austria-based Erste Bank (ERST.VI) has received a loan from European Bank for Reconstruction and Development.

Erste Bank Hungary received EUR100m from the European Bank for Reconstruction and Development (EBRD) to finance small and medium sized enterprises. The money is to be used to finance firms with fewer than 250 employees and less than EUR50m in annual turnover.

The loan is part of a joint pledge by the EBRD, the World Bank Group and the European Investment Bank (EIB) to provide over EUR24.5bn to support the region's banking sector.

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Publication:Global Banking News (GBN)
Date:Jul 10, 2009
Words:149
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