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Medicover will receive support from Putin Bank for expansion

Medicover Group will receive support from the International Investment Bank (NBB) for further developments in Hungary, Romania and Slovakia, with a total investment of €40 million, the NBB told MTI on Friday.

According to the announcement, NBB became a creditor under the Medicover Schuldscheindarlehen (SSD) group issue. The group will use the proceeds of the identified ten-year tranche to further modernize technology and expand its operations in the Central and Eastern European region, primarily in three ICC member countries: Hungary, Romania and Slovakia. Thus, one of the most important features of the transaction is the integration effect.

As they wrote, Medicover currently operates more than 30 clinics, 15 diagnostic laboratories and 3 large hospitals in these countries, as well as providing affordable high-tech healthcare services.

NBB and Medicover have been collaborating since 2019, when the bank first provided financing for the development of healthcare facilities for its clients in Romania. These transactions are particularly important to the Bank, as their implementation is fully in line with its mission as a multilateral development organization and contributes to the United Nations Sustainable Development Goals (SDGs), in this case the health and well-being goal.

In a government decree issued in July 2019, the Hungarian government decided to embark on a capital increase by establishing the Hungarian headquarters of the International Investment Bank (ICB). The bank has very special guarantees in Hungary, for example, it is completely exempted from the supervision of the Hungarian authorities, and its directors and guests can move in Hungary and thus in the European Union according to the rules of diplomatic exemption. The NBB is also referred to as the outstretched arm of the Russian intelligence service, and many US senators, including Bernie Sanders also protest:

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