Hungary launches probe into €1 billion loan to North Macedonia

The new Hungarian government, led by Prime Minister Péter Magyar, announced an institutional investigation into a €1 billion loan that Hungary’s state Eximbank granted to North Macedonia during the previous administration of Viktor Orbán. The loan was issued on a fixed 3.25 % interest rate, with a 15‑year repayment period, a three‑year grace period and a 100 % state guarantee. Magyar said the favourable terms could cost the Hungarian budget about 90 billion forints (≈ €248 million). The investigation will examine the loan’s conditions, economic justification and whether public funds were misused – for example, whether money intended for Hungarian companies was diverted to strengthen a foreign political ally. The Ministry of Economy and Energy has submitted four police reports covering this and three other Eximbank transactions, totalling roughly 1 trillion forints. Magyar stressed that the government will not pre‑judge the cases but will provide full support to the competent authorities to determine if any criminal acts occurred. Macedonian opposition party SDSM noted that the probe could raise broader questions about the loan’s arrangement.