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HUNGARY INNOVATION SUPPORT

Signature(s)

Amount
€ 275,000,000
Countries
Sector(s)
Hungary : € 275,000,000
Services : € 275,000,000
Signature date(s)
3/06/2008 : € 275,000,000
Link to source

Summary sheet

Release date
6 November 2007
Status
Reference
Signed | 03/06/2008
20070388
Project name
Promoter - financial intermediary
Hungary Innovation Support
Republic of Hungary – Ministry of Finance
Proposed EIB finance (Approximate amount)
Total cost (Approximate amount)
EUR 275 million.
EUR 631 million.
Location
Sector(s)
Description
Objectives

Within the scope of the Innovation 2010 Initiative, the loan will support the activities and the pluriannual 2008-2010 investment programme of the Hungarian Research and Technology Innovation Fund managed by the National Research and Technology Office (NKTH).

To support the Hungarian Government’s commitment to the development and operation of a new, efficient innovation system in order to speed up economic growth in Hungary.

Environmental aspects
Procurement

Hungary is subject to applicable EU Law and has adopted environmental legislation in line with standards mandated by relevant EU Directives. The R&D activities concerned will not materially change current Hungarian R&D practice, and will be carried out within existing research facilities.

Hungarian public procurement law fully complies with relevant EU Directives The Promoter will ensure that the investments to be financed by this operation will comply with EU directives.

Link to source

Disclaimer

Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).

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Enquiries and comments concerning the EIB’s involvement in a project or the financing facilities, activities, organisation and objectives of the EIB, can be sent to the EIB Infodesk.
Alternatively, the EIB can be contacted through its external offices.
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Any complaint regarding alleged maladministration can be lodged via the EIB Complaints Mechanism. The European Ombudsman acts as an independent external accountability mechanism of the EIB.

Zero tolerance against fraud and corruption

The EIB has a zero tolerance policy on fraud or corruption. To report allegations of fraud and corruption relating to EIB-financed projects, please contact the Fraud and Investigation division. All complaints will be treated as strictly confidential and handled in line with the EIB investigation procedures and the Anti-Fraud Policy.

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