Lázár details progress of Modern Cities program

Telco

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Hungaryʼs central government has reached agreements with the countryʼs biggest cities on 260 investments worth HUF 3,388.5 billion within the framework of the Modern Cities program, János Lázár, the head of the Prime Ministerʼs Office, said in a letter to an opposition MP posted on the website of Parliament.

The funding includes HUF 2,091.3 bln for road and railway investments, Lázár was cited as saying by state news wire MTI. Excluding these projects, the value of the investments comes to HUF 1,297.2 bln, of which HUF 784.6 bln is from the central budget, HUF 104.7 bln from European Union funding, and HUF 407.9 bln from assorted financing, he added.

Between the time of the programʼs launch in March 2015 until the end of last August, HUF 339.6 bln of the program allocation was paid out. This included HUF 221 bln in domestic resources and HUF 118.6 bln in EU funding, recalled Lázár.

Agreements with local governments on the funding and projects were reached over a period of a little more than two years, MTI noted.

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