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Hungary on Thursday signed an agreement for HUF 900m in European Union funding for a bicycle loan scheme in the capital.
The agreement on the funding was signed by National Development Ministry state secretary Pal Völner, deputy mayor István György and CEO of the Budapest Transport Centre (BKK) David Vitézy.
The HUF 1.1bn project, dubbed BuBi, will have 74 collection points with capacity for 1,500 bicycles. A thousand bicycles will be purchased at the start.
BuBi is to be completed in Q1 2013.