Hungarian energy giant to borrow 250 million euros from a Chinese bank?
Hungary’s MVM Group has signed a corporate financing agreement worth 250 million euros with ICBC Austria to ensure its financial stability, MVM on Friday.
MVM said it would do everything to ensure security of supplies amid the energy crisis and unpredictable trends in the European and global markets, and was working to “build a broad safety net” in terms of financing.
MVM economic deputy head László Fazekas said in the statement that the agreement would contribute to further expanding the financial resources necessary for Hungary’s energy security and would further increase MVM’s financial stability, as well as the confidence of lending markets in MVM’s long-term outlooks. MVM and ICBC Austria are in negotiations on further opportunities to strengthen medium- and long-term cooperation, Fazekas added.
The Chinese ICBC is one of the biggest banks of the world, Magyar Hang wrote.
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Source: MTI, Magyar Hang
Budapest, Hungary – a “Pivotal” location, of the New Silk Road, where East meets the West.
We continue to build on our DEEP relationship dependency with China, escalating our Debt, to them, as this article outlines in borrowings.
China & Russia – to Hungary are our closest FRIENDS.
We continue to PAY heavily as a country, through the closeness of these relationships.
This was the WRONGFULLNESS of direction, for the FUTURE of Hungary, that this present Fidesz led Government, under the Leadership of Victor Orban, set our course, which we are presently and will in the FUTURE – as a country FEEL continue to experience DEEPER ramifications, through the Orban led Government, taking us as a country on the Economic & Financial course of direction they have set us on.