Hungarian finance minister calls on EBRD to focus on central Europe

The European Bank for Reconstruction and Development (EBRD) should focus more on central Europe, especially the countries neighbouring Ukraine, Finance Minister Mihály Varga told MTI on Wednesday, after attending a meeting of the EBRD’s Board of Governors in Marrakesh.

The EBRD was set up in 1991 to help central and eastern European economies recover after the collapse of Communist regimes in the region. While it is important to support development in Asia or the Sahel region, the EBRD must not lose its focus as a primarily European bank, he said.

Hungary, the Czech Republic, Slovakia, Estonia and Latvia have drafted a proposal for funding for local EBRD branches.

“We aim to acquire funding for more projects through the bank,” he said.

Regarding the Russia-Ukraine war, Varga said

Hungary had already spent some 40 billion forints (EUR 105.2m) on handling the refugee crisis.