Hungary’s Orbán government seeking additional loan from China
National Economy Minister Márton Nagy met with China Development Bank President Tan Jiong on Friday to discuss the ongoing joint projects between Hungary and China. The projects cover a range of areas including infrastructure, energy, digitalisation, and e-mobility. The two officials also talked about deepening the financial cooperation within the Chinese-Hungarian Cooperation Framework.
During the meeting, Nagy emphasized the strong and growing ties between Hungary and China, particularly in the realm of financing cooperation. He highlighted the importance of establishing economic relationships based on mutual respect and benefiting all parties involved. Nagy praised China and Chinese financial institutions as crucial partners in Hungary’s economic endeavors.
Hungary aims to further enhance its economic cooperation with China and views the country as a significant player in global financing and investments. The country has become a key destination for Chinese investments in Central and Eastern Europe and seeks to strengthen its role as a bridge for capital, knowledge, and technology between the East and the West.
Nagy outlined several infrastructure projects that Hungary is working on with Chinese financing, including the V0 railway bypass around Budapest, a rapid rail line connecting Liszt Ferenc International Airport to the city center, and improvements to border infrastructure with Serbia. Additionally, he mentioned the Budapest-Belgrade rail line project, which is expected to be completed by the summer of 2025 with Chinese backing.
Overall, Hungary looks forward to continued collaboration with Chinese financial institutions in implementing crucial infrastructure projects as part of the country’s economic development strategy. The partnership between Hungary and China is seen as mutually beneficial and strategic for both nations.
