The Hungarian finance ministry and the European Investment Bank had an agreement Thursday for a EUR 400 mln loan to co-finance strategic rural development projects.
Minister for National Economy Mihaly Varga and European Investment Bank Vice President Vazil Hudak signed the contract.
According to Mr Varga, the loan will be used for the development of agricultural production facilities and enterprises as well as forestry projects, for rehabilitating agricultural areas ravaged by natural catastrophes, investing in physical assets and improving vocational education and the obtaining of skills.
