EBRD to lend EUR 300-400mn to Hungary in 2010.

By bne IntelliNews March 25, 2010
The EBRD could allocate EUR 300-400mn of loans to projects in Hungary in 2010, business daily Napi Gazdasag said reporting the results from a meeting between PM Gordon Bajnai and EBRD president Thomas Mirrow. EBRD targets projects mainly in the areas of renewable energy and district heating services. At the same time, the cabinet is also in negotiations with the bank to provide loans for financing operations of the state-owned railway operator MAV. The government is reportedly confident that the fresh EBRD funding will be sufficient to support rolling over maturing MAV debts during the year but EBRD lending is most likely to be conditioned on restructuring of the company.

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