The Foundation became an associate member of the European Mutual Guarantee Association with headquarters in Brussels (AECM - Association Européenne du Cautionnement Mutuel) through the Hungarian Credit Guarantee Association in 1996 and its independent full member in 2006. AECM, a non-profit association representing the credit guarantee societies of the candidate and member states of the European Union, has been operating in accordance with the Belgian Association Act since 1992 as a democratic organization independent of any political or financial group. It is now representing 34 guarantee societies operating in 21 countries of the European Union and in Turkey.

According to AECM Statutes, the main objectives are:

  • to represent the common interest of members,
  • to consolidate the role of the guarantee societies in lending to and development of SMEs, 
  • to harmonize the legal framework of the operating conditions of guarantee societies,
  • to foster the professional operating conditions of guarantee societies,
  • to foster the exchange of information and best practices among members,
  • to make proposals for establishing economic policy guidelines at European level for the intermediate bodies, including the European Union.

Long-term co-operation with AECM is highly essential for the Foundation since thus it has an opportunity to maintain direct relations with European guarantee societies and to share common experiences and best practices. Apart from the above, we receive support from AECM in product development and in learning, analyzing and using the EU economic policy. The Foundation takes an active part in AECM's programmes, introducing and representing Hungary's small and medium-sized enterprises engaged mostly in the field of agriculture and rural development.


Website of AECM: