Established in 1991, the European Bank for Reconstruction and Development (EBRD) has so far provided financing for 192 development and investment programs in Hungary, worth almost EUR 3.3 billion.
According to a report by MTI correspondent Róbert Kertész, the EBRD is providing a long-term loan to support the construction of a plant in Tatabánya that will produce copper foil for electric car batteries.
Frederic Lucenet, EBRD Head of Industrial Programs, said the EBRD fully supports the investment of South Korea’s Solus Advanced Materials, formerly Doosan, to make Hungary a European hub for the production of batteries for electric cars.
The bank will lend USD 28 million to the company for the Tatabánya plant, which will be the first industrial facility in Europe to produce copper foil for electric car batteries.
According to the information, the factory will source all the raw material for the production of copper foil in the form of scrap metal, thus contributing to the closed-loop production of batteries for electric cars.
The investment in Tatabánya is in line with the environmental targets set at the Paris agreement and meets the EU taxonomy standards for classifying environmentally sustainable economic activities, the EBRD said.