“We are expecting the European Bank for Reconstruction and Development (EBRD) to step up activities in Hungary”, Minister for National Economy Mihály Varga said at the EBRD’s Annual Meeting and Business Forum held in Amman, Jordan. The Minister has met with, among others, EBRD Vice President Jürgen Rigterink.

At the meeting with the EBRD Vice President, Mihály Varga stressed that Hungary was counting on the EBRD to assume a more active role in lending and capital investment in Hungary, especially in the private sector, just as the organization had planned it in the Country Strategy for Hungary in the period 2016-2020.

“We believe it is vital that the EBRD further intensify lending and investment activities in Hungary and the region, which is essential for the acceleration of their economic convergence and expansion beyond Europe and the Mediterranean should only be considered after the necessary work has been completed there,” he said.

Favourable operational results and financial indicators both show that having increased the weight of Hungary within the EBRD’s portfolio has served the bank well, given the fact that Hungarian investment projects are low-risk.

The EBRD was founded in 1991, and Hungary has been a member since the start. Since 1991, the EBRD’s net cumulative investment totalled some EUR 3bn, with 177 projects signed over the past 26 years.

Governors, who represent countries, adopted the bank’s annual financial statements and   business report as well as a document on the implementation of the bank’s operating strategy in 2018-2020.

(Ministry for National Economy)