Hungary opens criminal probe into state lender Eximbank over alleged abuses
Hungarian police have launched a criminal investigation into state-owned Eximbank over suspected abuse of office and mismanagement, including a €1 billion loan to North Macedonia.
Hungarian authorities have initiated a criminal investigation into alleged irregularities at state-owned Eximbank, police confirmed on Tuesday. The probe marks the latest move by Prime Minister Peter Magyar's administration to address accusations of corruption under the previous government.
Police are examining four separate cases involving the export credit agency on suspicion of abuse of office and mismanagement. Among them is a €1 billion ($1.2 billion) loan extended to North Macedonia, which carried a 3.25% interest rate and a full state guarantee.
The investigation follows a complaint filed in July by the economy ministry, which was based on an audit of the bank. Investigators on Monday seized thousands of pages of internal ministry documents to support the inquiry, according to a police statement.
"These are documents obtained during the internal investigation, which provide additional data for the investigation of the reported acts," the statement said.
Eximbank, which was overseen by the foreign ministry until responsibility shifted to the economy ministry in June 2022, has not yet responded to requests for comment.
Prime Minister Magyar, who ended Viktor Orban's 16-year rule in an April election, has pledged to crack down on what he describes as widespread corruption under the previous administration. Orban has denied the allegations.
Magyar previously suggested the North Macedonia loan may have diverted funds meant for Hungarian businesses to support a foreign political ally and potentially benefit companies linked to the former government.
Another case under investigation concerns an African infrastructure project for which Eximbank and the state-owned Hungarian Development Bank provided a 126 billion forint ($398 million) financing guarantee.