Hungary announces $84m credit-line for business with Pakistan

ISLAMABAD: The Hungarian government has announced an exclusive credit-line of $84 million for Hungarian companies to do business with Pakistan.

Together with this a loan facility of $50 million for projects in fisheries and food processing was announced by the Hungarian government. The two sides will also work towards establishing direct air links.

Meanwhile, a memorandum of understanding (MoU) on Cooperation within the Framework of the Stipendium Hungaricum Program 2020-22 was signed between the two sides, under which the Hungarian government will provide 200 scholarships annually to Pakistani students to study in Hungary.

These developments came Thursday in wide-ranging talks at the Foreign Office between Foreign Minister Shah Mahmood Qureshi and the visiting Minister of Foreign Affairs and Trade of Hungary Peter Szijjarto.

The visiting dignitary also called on Prime Minister Imran Khan. The talks covered bilateral relations and exchange of views on regional and international issues.