News

Change in guaranteeing finance to local governments

Due to the problems and debt service difficulties experienced in past months, the changes expected after the modification of the Act on Local Municipalities and on the initiation of the counter-guarantor European Investment Bank Garantiqa Hitelgarancia Zrt. introduces a temporary suspension of accepting new guarantee applications from 20 June, 2011.

 

Changes of the Business Regulations

The Business Regulations of Garantiqa Creditguarantee Co. Ltd. regarding the undertaking of surety guarantees related to loans, bank guarantees, factoring and financial leasing have been modified as from the 1st of April, 2011.

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New Széchenyi Counter-guarantee Programme

As we have advised our esteemed Partners before the conditions of the state counter-guarantee to the surety guarantees undertaken by Garantiqa Creditguarantee Co. Ltd. have changed. According to the Act CLXIX. of 2010 on the Budget of the Republic of Hungary for the Year 2011 there will be no state counter-guarantee behind our surety guarantees to the investment loans of SMEs as from the 1st of April, 2011.

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