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Eximbank to open €370 mln credit line to support Hungarian-Romanian business partnerships

Hungaryʼs Eximbank is opening a €370 million line of credit to support cooperation between Hungarian and Romanian businesses, Minister of Foreign Affairs and Trade Péter Szijjártó said in Bucharest on Friday, after meeting with his Romanian counterpart Lazar Comanescu.

Minister of Foreign Affairs and Trade Péter Szijjártó and his Romanian counterpart Lazar Comanescu. (Photo: MTI/Ildikó Baranyi)

Szijjártó said the sides had agreed that an interconnector between the Romanian and Hungarian gas networks would be completed in 2019. The project, which is supported with European Union funding, will significantly boost the energy security of the region, he added.

He said Hungaryʼs M4 motorway could be connected via a fast road to the A3 motorway in Romania within two years.

More border crossings must be built, as well, he added, noting that crossings now lie 40 km apart, much farther than the 2-3 km distance on average in Western Europe.