In the MoU, the ministries agreed to support the establishment of a "world-class, research-oriented university active in many areas of education" in Budapest.
In the course of drafting the MoU, the sides agreed on plans related to faculties and research institutes, the ministry said. The 520,000 sqm campus in the capital will be large enough to accommodate 5,000-6,000 students, it added.
In the first phase of construction, a 5,000 sqm dormitory will be built.
The National Bank of Hungary (MNB) signed a cooperation agreement with Fudan University in 2017, and the pact on setting up the campus was signed by Innovation and Technology Minister László Palkovics in 2019.
More than 30,000 students are enrolled at Shanghai-based Fudan University which placed 34th in the latest annual QS World University Ranking.