Two contract were signed yesterday between Hungary and the European Investment Bank for the coverage of the own financial resource of state projects of high priority funded by EU subsidies.

The European Investment Bank will provide credit for Hungary for the financing of several railway infrastructure projects and Extreme Light Infrastrucutre (ELI) project to be implemented in Szeged at the Laser Research Center.

The most important railway development projects include the modernization of existing railway lines, the installation of GSM-R traffic control system and the purchasing of 42 new motorized trains. The project related to development of ELI covers the purchase and installation of high quality R+D infrastructure and equipment.to the labs of the laser center.

According to the communication Ministry of National Economy the financial scheme offered by EIB is very favourable for Hungary and ensures the solid and sustainable refinancing of  these high prioritized projects.

You can read more here in the Hungarian language.