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Hungary exim bank opens EUR30 mln credit line for Maldives

Fathmath Shaahunaz
17 January 2020, MVT 14:02
Foreign Minister Abdulla Shahid (L) meets his Hungarian counterpart Péter Szijjártó, on the sidelines of the Raisina Dialogue in January 2020. PHOTO: Mátyás Borsos/MTI
Fathmath Shaahunaz
17 January 2020, MVT 14:02

Hungary's export-import bank has opened a EUR 30 million credit line for investment projects in Maldives.

The Hungarian Minister of Foreign Affairs and Trade, Péter Szijjártó, made the announcement last Wednesday during a meeting with his Maldivian counterpart, Abdulla Shahid, on the sidelines of the Raisina Dialogue in New Delhi, according to Hungarian media.

Per reports, the exim bank's credit line will promote Hungarian investments in the areas of food safety, tourism and water management in Maldives.

During the sit down, the minister noted that Hungary welcomed the EU’s decision to lift its previous economic sanctions on Maldives. He also voiced support for the EU to grant visa-free status to the archipelago.

In addition, Szijjártó acknowledged the issues faced by Maldives due to climate change, and shed light on the Hungarian government’s energy and climate protection strategy.

The two countries mark the 45th anniversary of the establishment of diplomatic relations this year.

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