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|Date:||10 November 2011|
The EBRD’s Board of Directors has adopted a new three-year strategy for Hungary which outlines the Bank’s key priorities for its activities.
Hungary is among the most advanced transition countries in the EBRD region in terms of market reform. However, the Hungarian economy has been severely hit by the global financial crisis and recession in its main export markets, exposing vulnerabilities particularly in the financial sector. The impact of the crisis has also pointed to the urgent need for further structural reforms.
Crucial transition challenges for Hungary lie in strengthening the resilience of the financial sector; addressing deep-rooted inefficiencies in the public transport sector; enhancing energy security as well as securing and expanding the country’s role as an export platform of technology and skills-intensive products.
In line with the Bank’s new strategy, operations and policy advice in Hungary will be aimed at:
To date the EBRD has committed approximately €2.5 billion across 164 projects in the financial, infrastructure, industry and energy sectors of the Hungarian economy.
Last updated 10 November 2011
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