Hungary Exim wins World Bank support for ING loan

(Global Trade Review, London, 13 September 2023) The Hungarian Export-Import Bank (Hungary Exim) will boost sustainable lending after securing a €300mn loan extended by investment bank ING and covered by the investment insurance arm of the World Bank. The World Bank’s Multilateral Investment Guarantee Agency (Miga) issued €386mn in guarantees to ING, covering the Dutch lender’s principal, interest and other financing costs on the debt. Hungary Exim says it will use the credit line to launch new green financing products and primarily to support SMEs, although some “larger” sustainable projects may also benefit.