EIB Loans $339.1M For Hungarian Railway Update

Law360, New York (January 8, 2014, 2:31 PM EST) -- The European Investment Bank said Monday it will lend €250 million ($339.1 million) for the implementation of Hungary's €550 million railway infrastructure rehabilitation program, which is designed to improve the safety, capacity and performance of the country's railroads.

The project, which is expected to be completed in 2016, aims to modernize the Hungarian railways and help them to become safer and more environmentally friendly. According to the EIB's website, it will be lending the money to Hungarian railway company MAV Magyar Allamvasutak, which is responsible for...
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