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.
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.