The EBRD in Hungary

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Hungarian parliament building on the Danube River, Budapest, Hungary

The EBRD has been investing in Hungary since 1991

In Hungary, we focus on those areas where transition gaps remain and where the Bank can create added value. The EBRD will continue to focus on developing the country's capital markets and on opportunities to deploy equity and innovative investment products. Where appropriate, it will work to address inclusion and governance issues.

At the EBRD, we partner with donors to make the economies in our regions greener, more resilient and more inclusive. To date, half of our investments are backed by donor funds.

215

Number of projects to date

€3,688m

Cumulative EBRD investment

€3,460m

Cumulative disbursements

100%

Private sector share of portfolio

Number of active portfolio operations

€526m

Current portfolio of projects

€500m

Operating assets

28%

Equity share of portfolio

28 March 1991

Joined the EBRD

237,110

Capital subscription (€000)

EBRD Governor: Márton Nagy
EBRD Alternate Governor: Máté Lóga
EBRD Board Director: Tamás Vojnits
EBRD Board Alternate Director: Klára Król

EBRD Shareholders information

In Hungary, we focus on those areas where transition gaps remain and where the Bank can create additional value. The EBRD will continue to focus on developing the country's capital markets and on opportunities to deploy equity and innovative investment products. Where appropriate, we seek to address inclusion and governance issues.

Focus areas

Select areas where transition gaps remain

We focus on areas where the Bank can create additional value.

Developing capital markets and opportunities to deploy equity and innovative investment products

Where appropriate, we seek to address inclusion and governance issues.

Supporting projects in the areas of resource and energy efficiency, decarbonisation and renewable energy

The Bank will continue to pursue cooperation with the authorities, including with the Ministry of Innovation and Technology on energy efficiency and the National Bank of Hungary on green bonds and other green financial products.

The EBRD adoped its latest country strategy for Hungary on 10 March 2021.

1.5%

EBRD forecast for Hungary’s real GDP growth in 2025

2.7%

EBRD forecast for Hungary’s real GDP growth in 2026

The economy is likely to be heavily affected by the additional import tariffs imposed by the US. Exports to Germany account for approximately 18 per cent of GDP, and the increased uncertainty surrounding the outlook in the automotive and battery production sectors could have a paralysing effect on investment decisions. The previously anticipated beneficial impacts of the launch of production this year at the Chinese electric car factory BYD in Szeged and the BMW car and CATL battery factories in Debrecen will likely be delayed until at least 2026. In the medium-term, resources could be redirected from automotive production towards defence manufacturing, provided emphasis on increasing defence spending is sustained. Private consumption is expected to drive growth in 2025 and 2026.

Nominal wage growth slowed to around 10 per cent in early 2025 and elevated inflation will hit disposable incomes. Consequently, the central bank is delaying cuts to the main policy rate, currently at 6.5 per cent. In March 2025, the government introduced a 10 per cent profit margin cap on 30 essential foods, effective until the end of May 2025, which is expected to reduce food inflation by 2 percentage points. The spring 2026 parliamentary elections are likely to delay fiscal consolidation, despite the excessive deficit procedure in place. Real GDP growth of 1.5 per cent is expected in 2025 accelerating to 2.7 per cent in 2026.

Hungary strategy and snapshot

Hungary diagnostic paper

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Hungary strategy

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Local language translation

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Report on public comments

PDF format / 0.60 MB

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Contact the EBRD in Hungary

Head of Office: Anca Ioana Ionescu

Address:

Szabadság tér 7, 1054 Budapest, Hungary

Telephone:

+36 1 486 3020

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The EBRD in Hungary

At the EBRD, we partner with donors to make the economies in our regions greener, more resilient and more inclusive. To date, half of our investments are backed by donor funds.

Focus areas

Select areas where transition gaps remain

Developing capital markets and opportunities to deploy equity and innovative investment products

Supporting projects in the areas of resource and energy efficiency, decarbonisation and renewable energy

Hungary strategy and snapshot

Contact the EBRD in Hungary

The EBRD in Hungary

At the EBRD, we partner with donors to make the economies in our regions greener, more resilient and more inclusive. To date, half of our investments are backed by donor funds.

Focus areas

Select areas where transition gaps remain

Developing capital markets and opportunities to deploy equity and innovative investment products

Supporting projects in the areas of resource and energy efficiency, decarbonisation and renewable energy

EBRD invests €76 million in VGP green bonds

EBRD supports EV battery copper foil producer in Hungary

EBRD supports CTP’s green Eurobond issue

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