Govt To Guarantee Loan To Renovate Budapest Metro Line, says Economy Minister
(MTI) – The government supports the earliest possible start of a renovation on Budapest’s M3 metro line and would provide a state guarantee to a related loan if necessary, Economy Minister Mihaly Varga said after Wednesday’s cabinet meeting.
“The government gives Budapest permission to take out a loan for the renovation of the M3 line, and is even ready to help the borrowing with a state guarantee,” Varga told a press conference.
Budapest is unable to carry out the renovation on its own, he said, noting that the renovation cannot wait, and the safety of passengers requires immediate steps, he said.
Legislation passed in 2011 allows municipalities to borrow only with the permission of the central government.
The opposition Socialists earlier said that the party was ready to collect signatures demanding the revamp of Budapest’s metro line 3 without delay. In reaction, Budapest Mayor Istvan Tarlos said that the Socialists had done nothing with the line originally built in 1976.
Photo: MTI – Lajos Soos
Source: http://mtva.hu/hu/hungary-matters
please make a donation here
Hot news
Top Hungary news: American woman’s death was an accident? Gellért Hotel, best Christmas markets, new public holidays, Hungarian Watergate? – 11 November, 2024
World Aquatics temporary HQ inaugurated in Budapest
Hungarian baker couple winning awards in England – Their creations featured by the BBC: the M’s Bakery story
Top 5 Christmas markets in Budapest that will leave you breathless!
Only once in 22 years has the October general government deficit been bigger than now
Slovakia assures Hungary that the new Slovak language law will not curtail Hungarian minority rights