Karácsony said that “the current situation gives Hungary and Budapest a historic chance”, adding that he was “rooting” for the new government’s success concerning the release of frozen European Union funding to Hungary.

According to Karácsony, if the city’s planned environmental programmes are implemented, Budapest could bid for the Europe’s Green Capital title in 2029.

Noting that Budapest is the fastest-shrinking city in Europe, Karácsony said the plans aim to prevent the city from further shrinking and build one that retains its population.

Citing international examples, such as Vienna, he said that the city’s population could even be increased through improving the quality of life.

He said a “revolution” of public transport was needed to make it possible for city dwellers to reach public services within 15 minutes.

Out of the HUF 300 bln allocated, the city would spend 178 bln on transport, 50 bln on public area development, 38 bln on flood protection and waste water management and 34 bln on projects concerning equal opportunities, housing and welfare services, the mayor said.

The Budapest projects have been included in operative programmes of the EU, but their implementation was halted after the funds for Hungary were frozen two years ago, Karácsony said, adding that only 18% of them had financing agreements with the EU as yet.

Concrete projects include tramline developments on the outskirts of the city, a complete reconstruction of the area around Nyugati railway station, the purchasing of CAF trams, 160 trolleybuses, and preparations to build an electric bus fleet, Karácsony said.

He also mentioned the Rakosrendezo project, which he said was of historic significance, and another scheme worth HUF 50 bln, aimed at increasing the city’s green areas, with special regard to the area around the City Hall and Grand Boulevard.