Orbán: International Investment Bank in Hungary ‘significant development’

The establishment of the International Investment Bank’s headquarters in Budapest was the main topic of discussions between Prime Minister Viktor Orbán and Nikolay Kosov, the IIB’s President, at the prime minister’s offices in Budapest on Monday.

Kosov briefed Orbán about the bank’s activities and future plans, the PM’s chief communications officer, Bertalan Havasi, told MTI.

He noted that

IIB member states unanimously voted to relocate the bank’s headquarters to Hungary and authorised the bank to sign the relevant accord at a board meeting last December.

The headquarters is located in Moscow, and the European regional office is in Bratislava (Pozsony).

The establishment of the headquarters in Hungary will strengthen Budapest as a financial centre, he said, adding that currently there are five supranational development banks in the European Union, but none are based in the central European region.

“The IIB’s move to Budapest can be seen as a significant step forward,” Havasi said, noting remarks made at the meeting.

The IIB is a multilateral intergovernmental development bank registered at the UN with the aim of promoting social and economic development, prosperity and economic cooperation in its member states.

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Source: MTI