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VARGA: AIIB MEMBERSHIP STRENGTHENS HUNGARY'S ECONOMIC TIES

 

Hungary’s membership in the Asian Infrastructure Investment Bank (AIIB) since 2017 has strengthened the country’s global financial and economic ties and helped Hungarian companies’ access to Asian markets, Finance Minister Mihály Varga said. After meeting AIIB President Jin Liqun, Varga said Hungarian companies could receive special roles in the AIIB’s infrastructure-development and water management projects, the finance ministry said in a statement. The AIIB is one of the world’s most significant recently established development banks which has financed investment projects totalling over 8 billion dollars, he said. AIIB representatives said they would primarily strengthen cooperation in Hungarian companies expanding abroad and the possibility of opening a regional office in Budapest was also discussed, he added. Developments financed by AIIB support Hungarian export expansion and contribute to the implementation of the new Silk Road scheme, he said.