Budapest, December 12 (MTI) – The European Investment Bank (EIB) is lending 100 million euros to state energy company MVM to finance the implementation of its investment programme for the period 2013-2018, EIB and MVM said in a statement on Friday.
The EIB loan will facilitate the reinforcement and extension of the Hungarian electricity transmission network and reconstruction of underground gas storage facilities.
This is the second long-term financing agreement of EIB with MVM, after one has been signed in 2010 with a framework of 150 million euros.
EIB and Hungary also signed two other loan agreements on Friday worth a combined 218 million euros, to be spent on Hungary’s railway infrastructure development and a laser research project.
The EIB channeled 755 million euros to Hungary last year, and a total of 7.4 billion between 2009 and 2013.