The board of governors of the International Investment Bank (IIB) has decided to relocate the lender’s headquarters to Budapest, Finance Minister Mihaly Varga said in a statement on Wednesday.
The headquarters is expected to open in the second half of 2019, but the full relocation from Moscow will take 2-3 years, he added.
Hungary has only recently regained its full membership in the Russia-based bank.
via MTI
featured photo by iibbank.org
