The Bank’s activities in Hungary will be consistent with the strategic outline for the years 2006 -10 agreed upon in the Capital Resources Review (CRR 3) with respect to graduation and will be based on the following operational objectives:
- Support the involvement of the private sector in the provision of public services, including through public-private partnerships in the infrastructure area and also in cooperation with Cohesion/Structural Funds.
- Promote investments in the diversification of energy supply, in energy efficiency and renewable energy to enhance energy security, reduce energy intensity and meet environmental targets.
- Provide higher-risk products such as equity and structured debt for local corporations to fund their growth. Particular attention will be paid to local companies’ investments in the context of cross-border expansion.
- Participate in the introduction of new capital market products by financial institutions and support innovative products/financial institutions that provide financing for SMEs.
- Actively manage the Bank’s portfolio to maintain its high quality.
The Bank will continue to ensure that all EBRD operations in Hungary meet sound banking principles, have transition impact, are additional and are subject to the Bank’s Environmental Procedures and incorporate, where appropriate, Environmental Action Plans.
It is anticipated that in the coming years the EBRD will move from generating new business in the Hungary to working with Hungarian companies to invest in other EBRD countries further east.
