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Hungary concludes €400 mln loan deal

Finance Minister János Veres has signed three credit line agreements with deputy chairman of the European Investment Bank (EIB), Marta Gajeckaval.

The €400 million (about $577 million) involved will be devoted to subsidizing education, transport, environmental infrastructure and energy developments. Ever since 1990, European Investment Bank has channeled €8.4 billion (about $12.1 billion) to finance 113 projects in Hungary and the latest arrangements will strengthen bilateral ties further, Veres said. (NG, Gazdasági Rádió)