In late July, the EBRD board okayed the loan, with terms set at eight years at a 2.7% to 3.3% interest rate. A series of tenders will be launched for suppliers of the electronic ticket system, and winners of said tenders are to be announced by early 2014; the total cost of the project is projected to be €67.7 million.
BKK’s plan calls for the phasing out of paper tickets in 2015, and among the resources to be created with the loan are validation equipment for over 2,200 public-transport vehicles and train cars, 9,000 smartcard readers, 3 million smartcards, 700 hand-held inspection devices and a back-office system for data collection.
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