The European Investment Bank (EIB) and Magyar Fejlesztési Bank (MFB), will work together to help MFB’s advisory unit to provide advisory services to Hungarian project promoters. The support provided by the European Investment Advisory Hub will enable Hungary’s national development bank to offer support for the investment activities of SMEs and mid-caps, municipalities and state-owned entreprises.

MFB’s advisory unit (Üzleti Tanácsadás Csoport), established with the support of a previous EIAH grant, will provide technical assistance and advisory support for preparing, implementing, financing and monitoring investment projects in key sectors of the Hungarian economy, including information and communication technologies (ICT), the environment and resource efficiency.

"Recently, MFB has done a lot to ensure that Hungarian companies, especially SMEs, maintain and increase their competitiveness despite the unpredictable conditions. Our experience shows that in many cases accurate information and knowledge to solve difficult situations are just as important as flexible, well-diversified funding. As a national development bank, financial education is an important part of the MFB's vision, which we can realize together with our excellent international partners such as the EIB’s Advisory Hub."

Dr Levente Sipos-Tompa, Chairman and Chief Executive Officer of MFB

To achieve these goals, MFB will develop an online advisory platform and a financial product map to help project promoters navigate the financing opportunities available to them at the national and EU level. MFB’s advisory unit will also provide bespoke advisory services for building a pipeline of investment projects. Advisory services will include workshops and capacity building for developing project promoters’ knowledge of best practice and sharing information on key topics related to project preparation and financing.