MVM Zrt. has signed a mid-term general financing agreement worth EUR 250 million with ICBC Austria in order to ensure its financial stability.
In the current energy crisis, despite the unpredictability and extreme volatility of the European and global markets, MVM Group will continue to do everything to ensure the country’s security of supply by building a wide safety net of financial resources by maintaining its financial stability. In addition, the agreement underscores the confidence of the credit markets in the long-term prospects of the MVM Group.
ICBC is the largest financial institution in China and the world, with outstanding competencies in both industrial and commercial sectors.
MVM Group is 100% state-owned and operates in 23 countries. It has more than 120 member companies. The MVM Group provides 70% of Hungary’s electricity production and plays an indispensable role in renewable energy production in Hungary. It has a nearly 50% market share in gas supply to industrial customers and it provides 100% of residential electricity and natural gas supply through the universal service provider.