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Although Hungary is amongst the most advanced countries in the transition region in terms of market reform, significant transition gaps remain in several areas.
Strategy (171KB - PDF)
Local language translation (1MB - PDF)
The key remaining transition challenges that are relevant for the Bank include:
- Strengthening the resilience of the financial sector, including through the development of local currency capital market structures and instruments in support of real sector growth;
- Addressing deep-rooted inefficiencies in transport sectors, stemming in part from inefficient use of energy, insufficient private sector participation and lack of restructuring of transport companies;
- Diversifying sources of energy supply, promoting renewable energy and energy efficiency investments, and improving access to finance for related investments;
- Securing and expanding the country’s role as an export platform for technology and skills-intensive products.
In light of the impact of the recent crisis, the external environment and the remaining transition challenges, the Bank’s activities in Hungary will be based on the following selective strategic objectives:
- Support post crisis recovery of the financial sector by providing targeted long-term financing and new products to selected financial institutions, and facilitate the development of local capital markets.
- Provide long term financing to promote public transport and municipal infrastructure investments in close co-ordination with other International Financial Institutions, particularly the European Investment Bank (EIB).
- 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 set to combat climate change.
- The Bank will selectively provide higher-risk products for local corporations, particularly MSMEs, to fund their investments, with a focus on energy efficiency, R&D, innovation and/or knowledge economy leading to higher competitiveness. The Bank will also support the regional expansion of Hungarian companies through cross-border investments.
Last updated 9 November 2011