Luxembourg / Budapest, Hungary, 9-1-2014 — /EuropaWire/ — The European Investment Bank (EIB) is lending EUR 250 million to finance the implementation ofHungary’s railway infrastructure rehabilitation and upgrading investment programme for the period2013-2016. The objective is to improve the safety, capacity and performance of the existingconventional railway infrastructure with positive impacts on commuters and long-distance travellers as well as on freight traffic.
The EIB loan will help the Hungarian railways to become more competitive and attractive in comparison will less environmentally friendly modes of transport such as by road. The project comprises various schemeslocated across the whole country, particularly involving the improvement of tracks, signalling, telecommunications and bridges, as well as the modernisation of stations and passenger buildings, including increasing their accessibility for people with reduced mobility.
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 EUR 4.2 billion,representing 25% of the total EIB lending commitment in the country.
The European Investment Bank is the long-term lending institution of the European Union and is owned by the EU Member States. It makes long-term finance available for sound investment in order to contribute towards EU policy goals.
Dušan Ondrejička, email@example.com, +352-4379-83334