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VSquare: Hungary acts as middleman for China’s EUR 500 million loan to Orbán’s Balkan allies
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In July this year, Hungary announced a EUR 500 million loan to North Macedonia, a country now led by the nationalist VMRO-DPMNE party, which is closely aligned with Hungarian Prime Minister Viktor Orbán.
According to VSquare, this deal may be linked to the EUR 1 billion loan that the Orbán government secured from China earlier in 2024. Several diplomatic sources informed the outlet that Hungary is essentially acting as a mediator for China, channelling Chinese funds to support North Macedonia.
The article cites a North Macedonian expert who noted that Hristijan Mickoski, leader of VMRO-DPMNE, had mentioned plans to secure a EUR 1 billion loan for strategic projects on the day of his election.
However, Mickoski quickly denied that the funds would come from Russia or China, instead claiming that a European country would provide the loan.
This is a new one. Fidesz is now an international money launderer for the Chinese but I am sure Hungary has been laundering Russian money for years.