Budapest, 03/09/2003 (Agence Europe) - 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. Mr Maystadt signed two loans with Mr. László totalling EUR 360 million for transport projects. Loans provided to Hungary so far amount to EUR 3.1 billion, of which EUR 1.252 billion has gone to transport projects.
A loan agreed to on Monday will be used for EUR 170 million loan will finance the rehabilitation and modernisation of railway infrastructure. An EIB press statement explained that all the railway stations in Hungary 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.
The second loan of EUR 190 million loan will finance the construction of three urban by-passes on major national roads connecting Hungary with Austria, as well as the expansion of National Road 10, which aims at alleviating traffic problems, which currently affect the northern part of the Budapest area.
Mr 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".