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MFB to grant Ft 130 bln state-guaranteed loan to National Motorway

State-owned Hungarian Development Bank Rt (MFB) will grant a Ft 130 billion loan to the state-owned National Motorway Rt (NA), according to an announcement in Magyar Közlöny.

The loan will carry a state guarantee. The government resolution on the loan stipulates it is to be granted immediately. NA is responsible for already completed motorway projects, while under legislation passed late 2005, the State Motorway Management Company (AAK) has been placed in charge of financing and managing motorway projects not yet half-way completed and those still in the planning stages.