Hungary, Mongolia strike $25mn loan deal

Hungary has extended a $25mn credit line to Mongolia for the overhaul of a bioplant.

Hungary, Mongolia strike $25mn loan deal

World Bulletin / News Desk

Viktor Orbán, on a three-day official visit, held talks in the capital city with his counterpart Chimediin Saikhanbileg on Monday. “Over the past years, Mongolia has developed at a tremendous rate and Hungary’s economic performance is outstanding in European comparison,” said Orbán during a press conference.He added that Mongolia showed interest in jointly harnessing the two countries’ capabilities.

Viktor Orbán said his visit was to help bring the two countries' friendship to a higher level as well as boost business cooperation. Orbán noted that Hungary reopened its embassy in the Mongolian capital last year. “We have returned to Mongolia,” he said, noting that his delegation comprises 50 leaders of successful Hungarian businesses seeking cooperation with local companies. 

The Prime Minister also welcomed the signing of  a number of bilateral agreements, including an agreement on Hungary’s Eximbank opening a 25 million dollar credit line to finance the revamp of a Mongolian bioplant, a protocol on reviewing contracts, as well as a letter of intent on cooperation between Eximbank and the Mongolian Development Bank.


Last Mod: 29 Ocak 2016, 11:19
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