EBRD – HUNGARY
June 1st, 2005
BY KEITH NUTHALL
THE EUROPEAN Bank for Reconstruction and Development (EBRD) is lending Euro 10 million to Hungarian vehicle leaser Merkantil Car, for on-lending to micro and small businesses seeking help for leases of up to Euro 125,000. The EBRD loan is complementing Euro 1 million in support from the European Commission to help Merkantil Car fund staff training and other costs. Part of Hungary's largest banking group OTP, Merkantil Car would use the loan to increase market share and launch specialist services, said the EBRD.
THE EUROPEAN Bank for Reconstruction and Development (EBRD) is lending Euro 10 million to Hungarian vehicle leaser Merkantil Car, for on-lending to micro and small businesses seeking help for leases of up to Euro 125,000. The EBRD loan is complementing Euro 1 million in support from the European Commission to help Merkantil Car fund staff training and other costs. Part of Hungary's largest banking group OTP, Merkantil Car would use the loan to increase market share and launch specialist services, said the EBRD.
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