EIB lends EUR 360 million for transport projects
Published:
3 September 2003 y., Wednesday
During his visit to Budapest today, the President of the European Investment Bank, Mr Philippe Maystadt, met the Hungarian Prime Minister Mr Peter Medgyessy and Minister of Finance Mr Csaba László to discuss Hungary's integration into the EU and future EIB operations in the country. Mr Maystadt signed two loans with Mr. László totalling EUR 360 million for transport projects.
A EUR 170 million loan will finance the rehabilitation and modernisation of railway infrastructure. Within the framework of this project, the railway stations of Rákospalota-Újpest, Székesfehérvár and Érd will be modernised and line sections totalling some 100 km of the Hungarian railway network will be upgraded in various parts of Hungary. All station rehabilitation schemes are located in Pan European Corridors IV or V whereas most of the railway lines are major national communication routes for international and local traffic.
Another EUR 190 million loan will finance the construction of three urban by-passes on major national roads connecting Hungary with Austria and around the north-eastern shore of Lake Balaton. In addition, the expansion of National Road 10 aims at alleviating traffic problems, which currently affect the northern part of the Budapest metropolitan area.
Commenting on the loans signed today EIB President Maystadt stated, “The operations signed today represent further EIB support for investment in the upgrading and rehabilitation of key national transport infrastructure, especially with a view to Hungary's future entry into the common market. Indeed, good road and rail infrastructure will help Hungary to harness the numerous new opportunities arising from EU membership”.
Šaltinis:
europa.eu.int
Copying, publishing, announcing any information from the News.lt portal without written permission of News.lt editorial office is prohibited.
The most popular articles
The European Investment Bank is providing a EUR 718 million strong support for rail transport, electricity distribution as well as energy efficiency and renewable energy in Turkey.
more »
The European Investment Bank (EIB) has approved a EUR 150 million loan for expanding the Port of Barcelona. EIB Vice-President Carlos da Silva Costa and the Chairman of the Barcelona Port Authority, Jordi Valls, signed the finance contract in Catalonia’s capital.
more »
The extent to which hedge funds should be regulated is one of the key issues facing MEPs on the Economic and Monetary Affairs Committee.
more »
The European Investment Bank (EIB) is lending CZK 2 billion (approx. EUR 73 million) to the Municipality of Plzen (West Bohemia) to implement priority urban regeneration schemes identified in the city’s 2004 Development Plan.
more »
High-speed rails, supporting indigenous people's rights, protecting nature and wildlife, student loan facilities, construction and refurbishment of hospitals and reduction of industrial pollution are just a few projects supported by the European Investment Bank.
more »
The European Commission has authorised, under EC Treaty state aid rules, €14.3 million of aid, which the Slovak authorities intend to grant to Volkswagen Slovakia, belonging to the Volkswagen AG, for the transformation of an existing plant in Bratislava.
more »
MEPs began acting on their new Lisbon Treaty power to co-decide fisheries policy with Member States on 1 December - the day the treaty took effect - with a Fisheries Committee indicative vote on three legislative proposals.
more »
With seasons’ holidays approaching DnB NORD Bankas will offer better cash exchange rates for Great Britain’s pounds, Swedish, Norwegian and Danish krones until 31st December.
more »
The European Investment Bank (EIB) today agreed to provide a EUR 40m loan to FirstRand Bank to promote energy efficiency and renewable energy projects across South Africa.
more »
The European Commission has today approved an application from Lithuania for assistance under the European Globalisation adjustment Fund (EGF).
more »