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
When you fill up your car with petrol you often find that your hand will reek of petrol unless you have worn gloves.
more »
The EU is going through its worst recession since WWII. Inflation has slowed, but employment and public finances are hard hit. The situation should stabilise in 2010.
more »
In the current economic environment, banks should carefully analyze the current and future total cost of ownership of their technology assets, and evaluate the outsourcing alternative.
more »
Commission proposes first EU law on hedge funds and issues guidelines on bank pay practices.
more »
On 30 April, Lithuania’s Minister of Foreign Affairs Vygaudas Ušackas took part in the round table discussion “The European Union’s External Trade Policy and Lithuania’s Positions: Threats and Possibilities for the Lithuanian Industry”.
more »
Since 28 April this year, the clients of AB Bank SNORAS will be able to process their financial matters in a clearer and more user-friendly environment of “Internet Bank+” system.
more »
2009 ageing report: Europe tackling the challenge of an ageing population but the recession threatens a setback.
more »
More choice, investment and security of supply lie at the heart of the 3rd energy package.
more »
Swine flu, a new strain of influenza, has so far left more than a hundred dead. But in one sector, the illness could have huge benefits.
more »
Central European bargain hunters are crossing borders for the best buys. Slovakian shoppers in Hungary are making the most of their new eurozone membership.
more »