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SZIJJÁRTÓ MEETS IIB CHAIR AHEAD OF EXPANDED BOARD MEETING

 

Foreign Minister Péter Szijjártó met with International Investment Bank (IIB) chairman Nikolay Kosov in Budapest, ahead of a meeting of the lender’s board of governors and representatives of its stakeholder countries, the foreign ministry said.
It noted that five international financial institutions are headquartered in Europe, but just one in Central Europe: IIB. The bank relocated its headquarters from Moscow to Budapest last summer. Hungary is the second-biggest shareholder in IBB with a 14.7% stake. The majority of the bank’s member countries are NATO members, it said.
So far, IIB has lent 76 million euros to Hungarian businesses. It has also issued about 50 billion forints (EUR 148.6m) of bonds in Hungary, the ministry said.