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Budapest signs for Ft 9.3 bln EIB loan to complete hospital projects

The Budapest City Council signed on Friday a contract for a Ft 9.3 billion loan from the European Investment Bank (EIB) to be used for healthcare projects in the capital.

The loan, which runs for 25 years, plus a 7-year grace period, will be used for four projects worth a combined Ft 19.5 billion, Mayor Gábor Demszky said at the signing. They include the construction of a new Ft 10 billion wing at the Bajcsy-Zsilinszky Hospital, funded in equal part by the state and the city, to be completed by the end of 2006; the renovation of three buildings at Szent Imre Hospital, and the construction of one new building, to be completed by 2010; the renovation of a wing of the Uzsoki Hospital, to be completed by 2010; and the three-year renovation of the Csepel Health Centre, costing Ft 1.2 billion, of which the city will pay 75%, to be completed by the end of 2006.