IBRD Loan: €1.0 Billion
Terms: Maturity = 8.5 years; Grace Period = N/A
Project ID: P114991
Project Description: The Financial Sector and Macro Stability Policy Loan Program for Hungary aims to: (a) support to fiscal reforms designed to ensure long-run fiscal and macroeconomic sustainability and restore investor confidence, improving access of the government, banks and the corporate sector to external funding; (b) support the financial stability program, designed to ensure adequate levels of liquidity and healthy capital cushions, able to absorb the effects of the international crisis and the contraction of economic activity; (c) support pension reforms designed to preserve adequate benefits while tightening eligibility criteria and containing expenditures to improve the sustainability of the pension system; and (d) aid in cost containment and deficit prevention in the health sector while ensuring access to care.
