IIB intensifies its dialogue with the Hungarian business: the Bank presented its services to the SMEs – members of the Eastern Europe Business Club.

IIB intensifies its dialogue with the Hungarian business: the Bank presented its services to the SMEs – members of the  Eastern Europe Business Club.

On January 21, 2020, International Investment Bank, supported by the Eastern Europe Business Club (Kelet-európai üzleti klub, EEBC), held a presentation of its products and services for the Hungarian companies.

Founded in 1992, the Club is a reputable public organization, which aims to promote and develop business cooperation between the Hungarian enterprises and the companies from Eastern Europe and the CIS States.

This significant online business event was attended by more than 80 officials of the SMEs, representing such key sectors of the Hungarian economy as agriculture, food and chemical industry, mechanical engineering, household and medical equipment production, pharmaceuticals.

The IIB team presented a detailed information on the Bank's services and products, with the focus on its mid-term strategy and investment priorities in Hungary.

It was noted that since the relocation of the IIB Headquarters to Budapest in 2019, the volume of financial support granted by the Bank to the Hungarian projects has grown from 6 to 15% of the total loan and documentary portfolio.

Particular attention was paid to the Trade Finance Support Program (TFSP), implemented by the Bank to strengthen and develop trade and economic ties between the IIB member states. Since 2014, when the TFSP was launched, the Bank arranged more than 230 trade finance transactions for a total volume of about EUR 500 mln.

“The presentation of the Bank's products and services aroused keen interest of the representatives of the Hungarian business community, - said Georgy Potapov, Deputy Chairperson of the IIB Management Board in charge of Lending and Investment, - we still have to overcome the consequences of the pandemics, which continue to have a negative impact on business. That is why the Hungarian companies, especially exporters, see our proposals as new opportunities for restoring and increasing production."

“I believe that the participants of the meeting received a really valuable information about the business priorities and financial capabilities of IIB, - said Miklos Jasper, President of the Eastern Europe Business Club, - for the Hungarian companies it was very important to understand that certain sectors of the economy which seem to be neglected by our national financial system, constitute target segments for the Bank and, therefore, can count on its financial support. It should be also noted that the highest level of long-term credit ratings of the Bank is a guarantee that the Hungarian companies can receive financing from IIB on favorable terms. "

The participants of the event unanimously expressed their positive opinion on the benefits and outcomes of such meetings and agreed to hold them on a regular basis.