IIB outlays in Hungary reach nearly HUF 400 mln

Banking

Outlays of the International Investment Bank (IIB) in Hungary add up to almost EUR 400 million since 2015, the lenderʼs chairman, Nikolay Kosov, told Hungarian news agency MTI.

IIB has invested in the energy, agriculture and food, and tourism sectors, Kosov said, noting contracts with MVM group, waterfowl company Hunent and the Balaland hotel and recreational development on the shores of Lake Balaton. Lending in Hungary accounts for 15% of IIBʼs portfolio, up from 6pc when the lender moved its headquarters to Budapest from Moscow in 2019, he added.

Kosov noted that Hungary re-joined the IIB in 2015 and is now the lenderʼs second-biggest stakeholder.

IIB has more than 60 staff at its Budapest HQ.

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