EIB opens Hungarian office in Budapest today

Int’l Relations

The European Investment Bank (EIB) today opened its office in Budapest, with the goals of strengthening interbank relations and widening the outreach of EIB in the country, according to reports.

The opening ceremony of EIBʼs Hungarian office in Budapest today. (Photo: MTI/Szilárd Koszticsák)

Along with opening the office, the EIB also signed a loan of HUF 15.1 billion to finance the construction, expansion, modernization and refurbishment of public education, pre-school and sports facilities in the country, Hungarian news agency MTI reported. The EIB has lent Hungary €19.3 bln since 1990, MTI added. 

The relationship of Hungary and the European Investment Bank is expected to get tighter, Hungary’s Minister of National Economy Mihály Varga said at the inauguration. He added that the opening of the bank is an acknowledgement of the economic policies of the country.

Varga said Hungary appreciates the credit agreements that the country has signed with the EIB and Banque de Developpement du Conseil de lʼEurope (CEB). He added that these agreements are worth an accumulated HUF 30 bln and will serve the development of Hungary’s infrastructure of education.

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