Tender called for a HUF 60 bln loan to finance metro renovation

Initiatives

The Budapest local council has called a tender for a HUF 60 bln loan to finance the renovation of the capital's No. 3 metro line in the most recent issue of the Public Procurement Gazette, MTI news agency reported. 

Interest on the floating-rate loan is to be pegged to the three-month BUBOR. The deadline for participation in the first round is March 9. National Economy Minister Mihály Varga said last November that the Hungarian state would provide a HUF 60 bln guarantee to finance the renovation.

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