Hungary ready to start talks on joining Eurasian Development Bank

Hungary is ready to start talks on joining the Eurasian Development Bank (EDB) as a full member, Finance Minister Mihaly Varga said at a conference in Moscow on Friday. Joining the EDB would make inroads into new markets and open up new sources of financing for Hungarian companies, as well creating opportunities for new investments in the Hungarian economy, the ministry said in a statement. If the accession talks are successful, Hungary will join a well-capitalised financial institution that international credit rating agencies say has a strong financial profile and whose operation is in line with generally accepted international practices, he added.