ADVERTISEMENT

IIB picks Hungary for European front office

Conferences

A memorandum of understanding on the establishment of a European front office in Hungary for the International Investment Bank (IIB) was signed in Budapest on Monday by Hungarian Minister of Finance Mihály Varga and IIB chairman Nikolay Kosov. 

Through the local office, IIB can play a significant role in investments and corporate lending in Central and Eastern Europe, Varga was cited as saying by state news wire MTI after the signing. Corporate lending needs to expand further if Hungaryʼs competitiveness is to improve, he added.  

Kosov said the IIBʼs board had decided unanimously on Budapest as the location for the IIB European Unit, according to an IIB statement. Kosov and Varga also discussed IIBʼs strategic targets in the region, the IIB added.   

Headquartered in Moscow, the IIB is a multilateral institution for development that focuses on supporting SMEs and socially significant infrastructure projects. The bankʼs members are Bulgaria, Hungary, the Socialist Republic of Vietnam, the Republic of Cuba, Mongolia, the Russian Federation, Romania, Slovakia and the Czech Republic.

ADVERTISEMENT

MKIK: Local business tax should be maintained Analysis

MKIK: Local business tax should be maintained

Parl't votes to phase out savings coops integration framewor... Parliament

Parl't votes to phase out savings coops integration framewor...

Roche Szolgáltató appoints P&C business partner lead Appointments

Roche Szolgáltató appoints P&C business partner lead

Capital sees urban exodus during pandemic City

Capital sees urban exodus during pandemic

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.