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
Wincor Nixdorf AG closed the first six months of fiscal year 2008/2009 with a 4 percent increase in net sales and a 2 percent increase in operating profit (EBITA).
more »
Raiffeisen Bank Polska SA, a subsidiary of Raiffeisen International, a leading financial corporation in Central and Eastern Europe, has deployed "VIP Mobile," a next-generation mobile banking solution.
more »
Commission calls for help with reforming EU fishing.
more »
IFC, a member of the World Bank Group, and SEB Bank today launched an innovative transaction that will support lending of around €50 million to help small and medium enterprises in Lithuania switch to renewable sources of energy.
more »
Is your money well spent at EU level? Every year, in April, the EP concludes its examination of EU spending for the financial year closed 16 months previously.
more »
The right to compensation for poor service, the right to change gas and electricity suppliers and comparable prices are just three aspects of the proposed “third energy package” being debated today by MEPs.
more »
As access to ATMs became free from April 1, many banks are expected to consider consolidating their teller operations instead of aggressively expanding ATM network.
more »
Crisis or no crisis, secure identity cards will still be needed to cross borders…
more »
A fund-raising initiative has been launched among 170,000 employees in all 22 countries where the Group operates
more »
This year AB Bank SNORAS also joined the promotional event "Praise excellent service!" which is held in March every year.
more »