HUNGARIAN ENVIRONMENTAL AND SOCIAL POLICY APPLIED IN EXPORT CREDIT

During export credit financing, integration of aspects of environmental protection (including sustainable development) is considerably important therefore environmental and social impacts and risks are taken into account during our evaluation process. By this, the institution can contribute to environmental protection as it cannot provide support for an environmentally harmful project.

Government Decree 312/2001. (XII. 28.) on the terms of the insurance of non-marketable risks by the Hungarian Export Credit Insurance Plc. with a government payment guarantee provided from the central budget regulating the activities of Hungarian Export Credit Insurance PLC (Hereinafter referred to as "MEHIB") stipulate that MEHIB shall consider the environmental and social aspects of the project according to the OECD common approaches.

PRINCIPLES OF HUNGARIAN ENVIRONMENTAL AND SOCIAL POLICY

• It should comply with Hungarian legal requirements, international obligations, environmental social and human rights agreements undertaken by Hungary.
• It should respect the laws and competition aspects of business secrecy, in accordance with the laws on public disclosure of environmental information.
• The operating rules and procedures should be flexibly applicable and could be further developed.
• MEHIB cooperates with stakeholders in assessing environmental and social impacts and respects the sovereign rights of the purchasing country.