Overview

China Construction Bank provides a HUF 55,670 million loan to MVM Zrt for unspecified purposes in 2022

Commitments (Constant USD, 2023)$141,251,975

Commitment Year•2022Country of Activity•HungaryDirect Recipient Country of Incorporation•HungarySector•EnergyFlow Type•Loan

Status

Project lifecycle

Pipeline: Commitment

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date: Jan 1, 2022

Stakeholders

Organizations involved in projects and activities supported by financial and in-kind transfers from Chinese government and state-owned entities

Ultimate beneficial owners

At least 25% host country ownership

Funding agencies

State-owned Commercial Banks

China Construction Bank Corporation (CCB)

Receiving agencies

State-owned companies

Magyar Villamos Művek Zártkörűen működő Részvénytársaság (MVM Zrt)

Loan description

China Construction Bank provides a HUF 55,670 million loan to MVM Zrt for unspecified purposes in 2022

Interest type•Unknown

Narrative

Full Description

Project narrative

In 2022, the China Construction Bank Corporation (CCB) signed a loan agreement worth HUF 55,670 million with Hungarian Electricity Private Limited Company (Magyar Villamos Művek Zártkörűen működő Részvénytársaság or MVM Zrt.) — a Hungarian state-owned power company responsible for the production, distribution and sale of electricity — for unspecified purposes. The terms of the loan are unknown.