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IIB to come to Budapest

Alex Hayes 05 February 2019

Alex Hayes

Journalist

+48 22 356 25 20
alex.hayes@eurobuildcee.com

Alexander Hayes is currently working as a journalist for Eurobuild Central & Eastern Europe magazine. Originally from the UK, he moved to Poland in 1995 and has been working in real estate for over four years. He has a BA in english literature from the University of Buckingham.

IIB to come to Budapest
The signing of the agreement
HUNGARY On February 5th 2019, the minister of finance Mihaly Varga and the chairperson of the International Investment Bank Nikolay Kosov signed an agreement for the IIB to relocate its headquarters to Budapest.
Addressing the audience, Nikolay Kosov described the event as “large-scale, historical and unprecedented.”. He talked of the key milestones in the Bank’s history, including the geopolitical events of the 1990s, when the institute went through a difficult time and he specifically emphasized that: “The Russian Federation has always provided effective support to the bank and, as a matter of fact, created the conditions for its further operations and the preservation of its status as an international financial institution. This ultimately led to the need for reform, which was successfully implemented by the Bank from 2012 to 2017, and brought IIB to a qualitatively new level.”

IIB plans to begin its operations in Budapest in the first half of the this year after the ratification of the agreement by the Parliament of Hungary.


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