Hungary signs for €620 mln in loans from EIB
Hungary has signed an agreement to take out two loans worth a combined €620 million from the European Investment Bank (EIB).
The EIB, owned by EU members, can lend at lower rates than most commercial banks because its AAA credit rating allows it to raise funds more cheaply. “We can lend in a way that it doesn't put too much of a burden on the budget,” EIB Vice President Ivan Pilip said at the press conference.
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