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EIB loan supports road network improvements in Hungary

The European Investment Bank (EIB) will loan €140 million to Hungary to finance the modernization of key sections of the country’s road network as per the the National Transport Infrastructure Development Strategy of the Hungarian Government, EIB announced in a press release issued today.

László Baranyay, EIB Vice-President responsible for lending in Central Europe said that the loan, along with a contribution from the Hungarian state amounting to a total of €1.2 billion, will be used to modernize the infrastructure of Hungary’s road networks through the construction of new roads and the reconstruction of existing roads and the improvement of links with trans-European transport corridors, the press release said.

Baranyay added that the the investment would improve “the country’s competitiveness and the quality of life of its citizens by providing safer and more fluid transport, meeting the increased demand”, according to the EIB press statement.