Hungary agrees to provide $84m credit line, scholarships

According to sources, Pakistan and Hungary collaborated to develop economic partnership, the latter agreed to establish a credit line of $84 million for business-to-business cooperation and provide another $50 million for tied aid programme.

Minister of Foreign Affairs and Trade of Hungary Péter Szijjártó stated in a joint press stakeout with Foreign Minister Shah Mahmood Qureshi “We have established a credit line at Hungarian EXIM bank to the extent of $84 million, which is exclusively to serve the enhancement of business-to-business cooperation between Pakistani and Hungarian companies,".

"We are ready to provide $50 million for a tied aid credit programme to be launched in Pakistan in the fields of agriculture, water, industry and food processing," he added.

"This rolls the ball for economic partnership we want to build," FM Qureshi said, apprising the media of the decisions reached between the two sides.