EU Bank Lends $72M To Budapest For Transport Upgrades

Law360, New York (September 6, 2013, 6:02 PM EDT) -- The European Bank for Reconstruction and Development on Friday announced that it had awarded a €54.5 million ($71.8 million) loan to Budapest's public transportation agency to help it develop a modern automated fare collection system.

The EBRD said that the loan to the Budapesti Kozlekedesi Kozpont Zartkoruen Mukodo Reszvenytarsasag would go to developing and putting in place a system that would upgrade gates on the Hungarian capital's metro system and updates on the fare-collection systems on the city's buses, trams and other railways as well as...
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