BAKU, Azerbaijan, January 31. The European Investment Bank (EIB) Group provided 314 million euros in financing for Hungary in 2024, supporting rail modernization, energy infrastructure, and small and medium-sized enterprises (SMEs), Trend reports.
The funding reflects the EIB Group’s commitment to fostering economic growth and sustainability in Hungary, with investments spanning transportation, power grids, and business development.
The largest project backed by the EIB was a 160 million euro loan to regional railway operator GYSEV, aimed at upgrading infrastructure and replacing old diesel trains with new electric models. This initiative will enhance rail connections between Hungary and Austria, modernize the national network, and improve travel efficiency while reducing emissions.
Additionally, the EIB provided 90 million euros to energy firms E.ON and MAVIR to expand power grids, ensuring stable electricity supply for key industrial sites, including electric vehicle production facilities. This investment supports Hungary’s role in the EU’s push for strategic industrial autonomy.
Hungarian SMEs also benefited from 64 million euros in EIB Group financing, reinforcing their role as a key driver of employment and economic stability.
“With over 25 billion euros invested in Hungary since 1991, the EIB remains a reliable partner in driving sustainable growth,” said EIB Vice-President Teresa Czerwińska. “Our 2024 results demonstrate our commitment to strengthening Hungary’s economy while advancing EU priorities.”