The European Investment Bank (EIB) on Tuesday announced that it signed two loans with the Municipality of Budapest, Hungary:
- EUR 200 mn, the first tranche of the approved loan of EUR 350 mn, to finance priority investment schemes in the areas of public transport and road networks, and
- EUR 100 mn, representing the first part of the EIB loan of EUR 200 mn, to support improvements in the fields of Budapest’s urban renewal and regeneration, energy efficiency increase and environmental protection.
“The EIB will provide favourable funding conditions and liquidity for a long tenor supporting priority investments under the Hungarian capital’s Integrated Urban Development Strategy. This is vital for the city’s continuing sustainable social and economic development, strengthening its competitiveness through the improvement of its attractiveness to investors, increasing the quality of life and upgrading the urban environment,” EIB Vice-President László Baranyay said.
Photo of Buda Castle by Andrés Nieto Porras of Mallorca, Spain.