Minister for National Economy Mihály Varga received in his office EBRD Risk Management Vice President Betsy Nelson. At the meeting, the Minister emphasised that the Government has been committed to complying with the MoU concluded with the EBRD in February this year and he also stressed that the institution may play a major role in the financing of the economy.
As he pointed out, in the coming years the Government is expecting the EBRD to assume a larger role in boosting economic growth. The MoU signed by the bank and the Government may open a new chapter in the history of financial relations.
The National Assembly adopted the law on reducing the bank tax rate at the beginning of summer, and other amendment proposals are also set to follow.
In disputed cases, the Cabin has been in constant negotiations with representatives of financial institutions, the Minister added.
Betsy Nelson and Mihály Varga also exchanged views on the EBRD’s country strategy on Hungary. The document is a blueprint of the bank’s activities in Hungary in the next four years.
Concerning this, the Minister said that Hungary hopes to see a larger role by the EBRD in stimulating the economy and increasing the financing of investment in the country.
The EBRD has been active in Hungary since 1991 and it has provided business loans of altogether EUR 2.7bn. Over the past fourteen years, 169 project agreements have been signed, 91 percent of which financed private sector investment.
(Ministry for National Economy)
