News by country: Hungary

A press conference held in Budapest announced the launch of a transnational environmental project “CLEAN WATER. HAPPY TISZA” supported by IIB

A press conference held in Budapest announced the launch of a transnational environmental project “CLEAN WATER. HAPPY TISZA” supported by IIB

On January 22, 2020, in Budapest (Hungary) during a press conference the start of a trans-border environmental project “Clean Water. Happy Tisza” was announced. This large-scale environmental program is implemented by the non-profit organization “Plastic Cup” and is aimed at combating plastic waste pollution in the basin of the second largest water artery of Hungary - the Tisza River. Earlier, in September 2019, International Investment Bank announced its decision to provide a grant fo…  Read more
Hungary increases its share in the paid-in capital of the Bank

Hungary increases its share in the paid-in capital of the Bank

The Government of Hungary increased its share in the paid-in capital of International Investment Bank (IIB) contributing an amount of 10 million euro on January 15, 2020. This continues a new round of capitalisation of the Bank. Capitalisation programme 2020-2022 received support of the shareholder states of IIB during a historic meeting of the highest governing body of the Bank – the Board of Governors – that took place in December 2018 in Varadero (Republic of Cuba). As a result of this…  Read more
For the first time IIB loan and documentary portfolio exceeded 1 billion euros

For the first time IIB loan and documentary portfolio exceeded 1 billion euros

On December 12, 2019, after the disbursement of funds under two loans provided by International Investment Bank to the Romanian company “BT-Leasing” and to the Russian company “Nord Hydro-White Threshold», for the first time in IIB’s recent history the gross volume of loan and documentary portfolio exceeded the value of 1 billion euro having demonstrated a record growth of 18% since the beginning of 2019. The projects are aimed at the development of renewable energy in the Russian Federation,…  Read more
IIB Board of Directors in Budapest summed up the results of 2019: successful completion of relocation to Europe, record growth of loan portfolio and key performance indicators

IIB Board of Directors in Budapest summed up the results of 2019: successful completion of relocation to Europe, record growth of loan portfolio and key performance indicators

On December 6, 2019, IIB Board of Directors met in Budapest. The meeting summed up the results of the outgoing year, which became not only very successful but to a large degree marked a turning point in recent IIB history. Addressing the high-ranked representatives of IIB member states, the Chairperson of the Management Board Nikolay Kosov noted with satisfaction that the unprecedented task of the Bank’s relocation to Europe was successfully completed. Moreover, the first positive results of…  Read more
IIB increases the Hungarian trade finance portfolio

IIB increases the Hungarian trade finance portfolio

The successful completion of IIB relocation to Budapest and acquisition of the European SWIFT code (IIBMHU22) gave a strong impetus to further growth of the Hungarian trade finance portfolio and to geographic diversification of borrowers in Eastern Europe. One of the Bank’s landmark transactions within the IIB Trade Finance Support Program (TFSP) was the issuance of IIB's guarantee against the counter guarantee of one of the leading Hungarian banks in favor of a Luxembourg electricity…  Read more