The EIB has agreed to lend €250mn for the upgrade of Hungary’s railway infrastructure.
The bank says the loan will “help the Hungarian railways to become more competitive and attractive in comparison with less environmentally-friendly modes of transport such as by road”.
The finance will be invested in improving tracks, signalling, telecoms and bridges, the modernisation of stations and passenger buildings.
In a written statement, the bank says: “Upgrading Hungary’s transport infrastructure and rolling stock, particularly the railway network, is one of the EIB’s lending priorities. EIB loans granted to the Hungarian transport sector since the start of the bank’s operations in Hungary in 1990 amount to some €4.2bn, representing 25% of the total EIB lending commitment in the country.”