Hungary Facilitates China’s EUR 500 Million Loan to Orbán’s Balkan Allies
Hungary Facilitates EUR 500 Million Loan to North Macedonia, Potentially Linked to China
Hungary recently made headlines by announcing a EUR 500 million loan to North Macedonia, a move that has raised suspicions and speculation about the country’s motives. The loan comes at a time when North Macedonia is now led by the nationalist VMRO-DPMNE party, which has close ties to Hungarian Prime Minister Viktor Orbán.
According to investigative journalism outlet VSquare, the deal between Hungary and North Macedonia may be linked to a larger picture involving China. Earlier this year, the Orbán government secured a EUR 1 billion loan from China, and diplomatic sources suggest that Hungary is acting as a middleman, channelling Chinese funds to support North Macedonia.
A North Macedonian expert pointed out that VMRO-DPMNE leader Hristijan Mickoski had initially mentioned plans to secure a EUR 1 billion loan for strategic projects. Mickoski later denied that the funds would come from Russia or China, leading to speculation about the true source of the loan.
Rumors surfaced that the money could be originating from China, with potential routes through Serbia or Hungary. Eventually, Mickoski revised the loan amount to EUR 500 million, adding to the intrigue surrounding the transaction.
VSquare’s investigation highlighted Hungary’s involvement in this deal, especially considering the Orbán government’s own financial challenges. The article’s author, Szabolcs Panyi, noted that Hungary had hoped to secure a larger loan during a visit by Chinese President Xi Jinping as a replacement for the country’s frozen EU funds.
The mysterious nature of Hungary’s role in this transaction has sparked interest and raised questions about the country’s motivations. As more details emerge, the link between Hungary, China, and North Macedonia continues to be a topic of discussion and speculation.
