Minister of Foreign Affairs and Trade Péter Szijjártó held talks with Chairman of the Board of Directors of the International Investment Bank Nikolay Kosov on Tuesday in Budapest, the Ministry said in a statement to Hungarian news agency MTI.
In the statement, the Ministry said that as the bank’s third largest shareholder Hungary welcomes the significant increase in the value of the bank’s investments and credit portfolio, and the fact that it has also begun to finance investments in Hungary and the export activities of Hungarian enterprises.
The Ministry also said that thanks to guarantee insurance from the bank, Hungarian pharmaceutical exports to Russia have received a significant opportunity for growth, in addition to which the bank is also financing the construction of the poultry processing plant in Kiskunhalas. “The International Investment Bank has developed financing cooperation with the largest Hungarian companies, thus improving their international competitiveness”, the statement added.
The Moscow-based International Investment Bank, which was founded in 1970, provides mid and long-term loans for development projects and investments.
(Cabinet Office of the Prime Minister/MTI)
