The state-owned Hungarian development bank MFB announced it signed a cooperation agreement with the China Development Bank.
The partnership - formed at a time when the conditions for cooperation between banks have become more difficult - will create new opportunities for the resources necessary to pay for developments in Hungary, MFB CEO János Erős said.
The agreement expands the non-budget resources MFB is able to draw on, the bank said.
China Development Bank is examining the possibilities of co-financing for big development projects and providing syndicated loans for projects in MFB's portfolio, said Liu Bing, who is charge of international cooperation at the bank. (MTI – Econews)