ADVERTISEMENT

Hungary increases share in the paid-in capital of IIB

Initiatives

iib.int

The Government of Hungary increased its share in the paid-in capital of International Investment Bank (IIB) contributing an amount of EUR 10 million on January 15, according to a press release by the bank.

Image: iib.int

IIBʼs capitalization program 2020-2022 received support of the shareholder states of IIB during a historic meeting of the highest governing body of the bank that took place in December 2018 in Varadero (Cuba).

As a result of this contribution, IIB paid-in capital increased to EUR 349,61 bln. Hungary’s share grew to 17,2% (EUR 60 mln) confirming its status of the shareholder state with the second-largest share in the paid-in capital.

"A systematic implementation of the current capitalization program will allow us to maintain high pace of lending and investment activity growth that we adopted in recent years," IIB chairperson of the Management Board Nikolay Kosov highlighted.

"We highly value a responsible stance and practical support that Hungary continuously demonstrates towards the bank. Addressing words of deep gratitude to the Hungarian Government I would call this decision a great beginning of a new business year for IIB and a good example, which I am sure our other member states will follow," he added.

ADVERTISEMENT

IMF raises Hungary 2021 GDP growth forecast to 7.6% Analysis

IMF raises Hungary 2021 GDP growth forecast to 7.6%

Parliament approves amendment to Competition Act Parliament

Parliament approves amendment to Competition Act

New CEO announced at Codic Hungary Appointments

New CEO announced at Codic Hungary

Budapest bike-sharing scheme boasts record ridership City

Budapest bike-sharing scheme boasts record ridership

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.