Budapest (MTI) – Budapest is set to receive 300-400 billion forints (HUF 980m-1.3bn) of European Union funding in the next seven years, Mayor Istvan Tarlos said on Thursday.
In a lecture at Budapest Corvinus University, he said that with the help of EU support Budapest would be able to refurbish the third metro line’s infrastructure and finish the extension of tram line 1. It will also enable the completion of a tram service linking Ujpalota in northeast Budapest with Baross Square.
Some 4.5 billion forints is planned to be spent on a transport hub and P+R in Kelenfold, 4-5 billion forints on the development of embankment areas along the Danube and 2 billion forints on additional 8-10 P+R facilities around the city. Some 3.7 billion forints is planned to be spent on some of the city’s pedestrian underpasses, including in Deak Ferenc Square, Blaha Lujza Square and Kalvin Square, he said. He added that 125 billion forints EU support is expected for the refurbishment of the metro 3 infrastructure.
He said some 38 percent of Hungary’s GDP is generated in Budapest and the city is a net payer to the budget.
Tarlos earlier told commercial channel RTL that Budapest could get 400-500 billion forints in EU support but has now corrected this estimate.