The development ministry will submit a bid for funding for Budapest’s third metro line to the European Commission before the end of November, the ministry told business daily Világgazdaság.

The construction project is planned to receive 137.5 billion forints (EUR 440m) European Union financing

but it is uncertain when the decision will be made in Brussels, the paper said on Tuesday.

The M3 revamp project started on the northern stretch of the line in early November, and if payments need to be made before a decision is reached in Brussels,

the state will provide financing under an agreement between the Budapest transport company BKV and the ministry.

“There is an allocation in the central budget to cover the costs,” the ministry added.

Source: MTI

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