In a significant development, the Hungarian government has pledged its support to finance infrastructure and energy ventures worth 140 million euros ($152 million) in Bosnia’s autonomous Serb Republic, as revealed in a statement by the region’s government on Friday.

The collaborative efforts between Serb Republic Prime Minister Radovan Viskovic and Hungary’s Economy Minister Marton Nagy have yielded agreements on several key projects, including a waste management initiative and the establishment of wind and solar parks, as highlighted in the statement.

Interestingly, two of the proposed projects were initially initiated by the German government but were terminated last year, along with two additional energy ventures, due to concerns regarding the secessionist ambitions of the region’s nationalist president, Milorad Dodik.

Hungarian firms Veolia, MVM, and Alteo have been enlisted to play pivotal roles in the execution of these projects, underscoring the collaborative effort between the two nations in bolstering infrastructure and energy capabilities within the region.

Furthermore, the governments of Hungary and the Serb Republic convened an economic forum in Banja Luka, the de facto capital of the Serb Republic, attracting numerous companies keen on presenting investment opportunities.

During the forum, Hungarian Prime Minister Viktor Orban, honored with the Serb Republic’s highest accolade by President Dodik, expressed optimism about the region’s potential for substantial economic growth in the foreseeable future, stressing Hungary’s commitment to participating in this promising trajectory.

Orban also voiced concerns over what he termed as “foreign interference” in Bosnia’s internal affairs while reaffirming Hungary’s resolve to assist the country on its journey towards integration into the European Union.