BUDAPEST – The International Investment Bank (IIB)

The International Investment Bank (IIB) will buy a building for its new headquarters for €26.8 million, in a prime location on the Danube promenade, 444 reports. The government has supported the project with €10 million. The bank is described as “Putin’s Trojan Horse” by the opposition, and has raised concerns domestically and internationally, especially in the United States.

Nine Democrat US senators, including presidential candidate Bernie Sanders, in September wrote a letter expressing their reservations about IIB, which “is widely seen as an arm of the Russian secret service.”

The bank is expected to employ more than 100 people with diplomatic immunity through its multilateral and intergovernmental status when it becomes fully operational next year.

The Hungarian government believes that IIB’s move will bring its shareholders, and among them Hungary, new economic opportunities. (Vlagyiszlav Makszimov | EURACTIV.com)

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