Hungarian and Turkish Eximbank to set up investment fund

Int’l Relations

Exim – the joint aegis of Hungarian Export-Import Bank (Eximbank) and the Hungarian Export Credit Insurance Company (MEHIB) – and Turkish Eximbank will set up a €50 mln investment fund in the near future, Exim director Gábor Szőcs said yesterday.

 Szőcs was addressing a Hungarian-Turkish economic forum organized by the Hungarian Chamber of Industry and Trade (MKIK). Szőcs said the Turkish Eximbank is one of three Turkish banks they have a cooperation agreement with. He noted Exim's export credit program that provides preferential-condition export finance to SMEs.

Some €1 bln is earmarked for the program this year, sharply up from €150 mln in 2012. Hungary's ambassador to Turkey, Gábor Kiss named energy, food and agriculture, machine production, waste and water management, environmental protection and IT as areas with a potential for Hungarian businesses. Hungarian companies could also partake in privatization projects in Turkey, he said.

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