Hungary plans to join Eurasian Development Bank

Hungary plans to join the Eurasian Development Bank (EDB) to open up new financing sources for Hungarian companies in Asia, Foreign Minister Peter Szijjarto said.

The move is part of the "eastern opening" diplomacy of Hungary's nationalist government that also includes forging close relations with China, which is building a major railway line connecting Budapest and Belgrade. The EDB currently has six members, all former Soviet republics.