“Increasing the export capability of Hungarian small and medium-sized enterprises is one of the Hungarian Government’s strategic goals”, Minister of Finance Mihály Varga stressed at a meeting with the World Bank’s regional Executive Director Günther Schoenleitner.

During the meeting, held at the Ministry of Finance in Budapest, the parties discussed how the World Bank Group could help Hungarian enterprises appear on international markets, as well as the development of the joint regional strategy of the countries of the Visegrád Group (V4).

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“The Government is doing everything possible in the interests of enabling more Hungarian enterprises to become involved in the tenders that the World Bank Group is realising in a variety of fields”, Mr. Varga highlighted. He pointed out that over the fast few years Hungarian enterprises have had the opportunity to take part in some 40 projects realised within the framework of the international financial institution’s tenders, at a value of over 50 million dollars. “There are an increasing number of competitive Hungarian enterprises”, the Minister added. “The World Bank’s experts could provide a major level of assistance to enable more Hungarian enterprises to acquire international opportunities”, he emphasised.

“Hungary is supporting the World Bank in its development plans relating to immigration and countries that are suffering from poverty”, Mr. Varga confirmed. “Last year’s increases in capital are enabling the financial instruction to provide resources for the establishment of workplaces, the creation of infrastructure and the reinforcement of local enterprises. This way of thinking is very similar to Hungary’s position in view of the fact that in our opinion problems must be resolved on site”, the Minister underlined.

At the meeting, with relation to the Budapest Water Summit to be held in Hungary in 2020, the parties agreed that the World Bank could play a key role in financing development projects that include the criteria of sustainable development.

(Ministry of Finance)