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Briefing notesEconomy & Policy

USD 50 million loan program launched to support Hungarian-Pakistani business relations

The loan program seeks to enable Hungarian companies to sell medical equipment, water services and food safety technologies on the Pakistani market.

Péter Szijjártó, Minister of Foreign Affairs and Trade, announced on Friday that Eximbank is providing a USD 84 million credit line to promote business-to-business relationships to help Hungarian companies enter the Pakistani market.

Hungary is also opening a new consulate in Karachi to help Hungarian companies with a physical presence.

Szijjártó emphasized that the basis of Hungarian-Pakistani economic cooperation is MOL’s investments in Pakistan. The company’s 2030 strategy focuses on investments in the country, and the Hungarian government supports these efforts.

MOL is the second-largest oil producer and the fifth-largest natural gas producing company in Pakistan; to date, it has invested USD 2.5 billion in Pakistan.

Regarding the U.S. withdrawal from Afghanistan, the foreign minister stressed that the country must be prevented from once again becoming the cradle of terrorism or extremist ideologies and that stable countries in the region must be given help to protect their borders and stop the terrorist threat. This is also in Europe’s security interest, which is why it is important to maintain close cooperation with this region of Asia, Péter Szijjártó said.

Source
www.origo.hu
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