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MORE: Hungary Central Bank Raises Funding for Growth Plan by 50%

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May 29 (Bloomberg) -- Monetary Council decides central bank will offer HF750b in interest-free funds to commercial lenders vs HF500b initially under Funding for Growth plan, central bank President Gyorgy Matolcsy says at press conference. * Central bank to offer HF425b in funds for SME lending vs

HF250b previously: Matolcsy * Interest-free funds for SME FX loan conversion raised to

HF325b from HF250b: Matolcsy * Commercial banks bid for 3 times the initial offered amount

of HF500 bln, with 9 out of 10 banks taking part in plan:

Matolcsy * Funding for Growth plan to trigger “turnaround” in SME

lending: Matolcsy * NOTE: Matolcsy Opts Against Bazooka as Hungary Starts

Funding Plan NSN MKRZ8Z6S972J <GO>

Story Link:NSN MNJUNJ6JTSE9<GO>

For Related News and Information: First Word scrolling panel: FIRST<GO> First Word newswire: NH BFW<GO>

To contact the reporter on this story: Edith Balazs in Budapest at +36-1-475-1189 or ebalazs1@bloomberg.net

To contact the editor responsible for this story: James M. Gomez at +420-2-2442-2103 or jagomez@bloomberg.net

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