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Hungary Applies For Chinese Loan, Budapest-Belgrade Rail Construction About To Start

Infra News - Published on Tue, 11 Jun 2019

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Hungary Today reported that the finance ministry has submitted a loan application for the implementation of the Hungarian section of the Budapest-Belgrade railway line to China’s Eximbank on behalf of the Hungarian government. The loan agreement will be ready for signing after an evaluation, paving the way for the project’s planning and licensing.

Mr Mihály Varga, the finance minister, said in a statement that the main contractors involved in the upgrade of the Soroksár-Kelebia line signed the investment agreement on May 24, and this will enter into force when the credit agreement with China’s Eximbank is adopted. The Hungarian state is financing 85 percent of the investment using the Chinese loan while the remaining 15 percent will come from its own resources.

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Posted By : Rabi Wangkhem on Tue, 11 Jun 2019
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