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EIB Lends EUR 47 Million to Volán Buszpark in Hungary

Auto News - Published on Fri, 14 Feb 2020

Image Source: Volánbusz EIB
Commuters in Hungary will enjoy new, faster, safer and more eco-friendly buses on regional and city lines across Hungary as a result of a EUR 47 million loan the European Investment Bank signed with Volán Buszpark Kft, the country’s biggest bus fleet management company. This is the first tranche of a EUR 140 million loan approved by the EIB, which combined with commercial bank finance, will help to upgrade nearly half of Volán’s bus fleet. The loan is provided under the Investment Plan’s European Fund for Strategic Investments as it addresses the EFSI objective of smart and sustainable urban mobility in the European Union.

With the EIB’s support, Volán plans to add 3 200 new buses over the next four years and improve the energy efficiency, safety and quality of public transport in Hungary, where two-thirds of towns are reachable only by bus. In 2018, Volán transported 700 million commuters across Hungary.

Financing from the EIB, the EU’s climate bank, will make a positive impact on climate and the environment. More than 450 buses, purchased under the loan for inner city routes, should run on alternative fuels, reducing pollution in Hungarian cities. The rest of the bus fleet will run on the latest EURO VI technology engines. With its new buses, Volán will reduce CO2 emissions by up to 38% over the next four years.

Volánbusz Zrt. is a passenger bus company founded more than 90 years ago, which now provides its services with nearly 6 500 vehicles. In terms of the number of employees, it has grown into the third largest state-owned company in Hungary. The core business activity of the company is to provide regular public bus transport services nationwide. VOLÁN Buszpark Kft. is a state-owned for-profit company operating as the main fleet management company of VOLÁNBUSZ Zrt. The company aims to renew its fleet of vehicles in the framework of a coordinated bus purchasing strategy and to manage the financing of vehicle purchases, thereby contributing to the improvement of service levels.

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Posted By : Yogender Pancholi on Fri, 14 Feb 2020
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