Hungary Could Become AIIB Member In H2 2015
- 16 Apr 2015 9:00 AM
Hungary could become a member of the Asian Infrastructure Investment Bank (AIIB) in the second half of this year, Foreign Minister Péter Szijjártó said. Hungary will not be a founding member but has applied to be an ordinary member, he told MTI after the list of founding members was finalised.
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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