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Sat March 06 2021

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Hungary gets funding towards €1.2bn rail refurb

15 Dec 14 The European Investment Bank (EIB) is providing funding to support the rehabilitation and reconstruction of priority sections of Hungarian railways.

The €184m (£146m) loan will co-finance projects with a total cost of €1.2bn (£950m) located throughout Hungary. They are focused on the rehabilitation and reconstruction of various TEN-T railway lines.

The project is intended to help improve efficiency, comfort and safety of the railway system and will thus enhance the attractiveness of rail transport to boost demand.

László Baranyay, EIB vice-president responsible for lending in Hungary, said: “EIB funds will co-finance priority projects expected to have a beneficial impact on passenger demand for both commuter and long distance rail transport. These projects will increase railway capacity, comfort and safety, thereby contributing to the attractiveness of this sustainable mode of transport.”

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