EIB signs euro 1.07 billion loan for Budapest
Monday, August 1, 2005, 11:35
European Investment Bank (EIB) vice-president Wolfgang Roth signed two loan agreements for a combined euro 1.07 billion with Budapest mayor Gábor Demszky and Finance Minister János Veres in Budapest on Monday, Finance Ministry announced. The EIB loans will finance the construction of the fourth Budapest metro line and a sewage treatment plant. EIB will provide euro 875 million for the construction of the new metro line between Kelenföld railway station and Bosnyák square. The City of Budapest will take out euro 184 million and the state will take euro 691 million. The other euro 194 million EIB loan will finance the construction of a sewage treatment plant on Csepel Island. The City of Budapest will take out euro 100 million of the total loan with the state taking the rest.