Minister of National Economy Mihaly Varga has signed a EUR 500 mln loan agreement with the European Investment Bank (EIB).
Mr Varga announced all credit will be spent on the development of the Hungarian road network. The first tranche contains EUR 140 mln, and will be used during this year. The remaining amount is planned to be used until 2020.
„Thanks to the loan, we can modernize roads that are not included in the Trans-European Transport Network or cannot be funded from an EU fund”, he said.
