It is in Hungary’s interest to be involved in the work of the new financial institution being set up with capital of 100 billion euros at the initiative of China.

The government decided last week to request membership, he added.

The founders plan to start operating AIIB in the second half of the year.

This is expected to be the time when ordinary membership requests are assessed, once the operational regulations for the organisation are approved, Szijjártó said.

Membership will enable Hungary to participate in the decisions of a potentially influential international financial institution, and this will also help Hungarian companies enter Asian markets, he added.

The implementation of AIIB-financed projects will provide a major boost to export potential, he added.

Source www.hungarymatters.hu

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