• Hungarian forint
  • Budapest
  • Police news
  • HelloMagyar
Hungary signs EUR 10bn Paks agreement with RussiaHungary signs EUR 10bn Paks agreement with RussiaHungary signs EUR 10bn Paks agreement with RussiaHungary signs EUR 10bn Paks agreement with Russia
  • Politics
  • Business
  • Society
  • Sport
  • Culture
  • Special Hungary
  • News To Go
  • World
  • Contact Us
  • About us
  • About us
  • Contact Us
  • Privacy Policy
✕
Important
  • Forint on a slope again, and the worst may come next week

  • Budapest Airport offers 107 destinations, plans to launch these Transatlantic flights

Support us
Daily News Daily News · 01/04/2014
· Business

Hungary signs EUR 10bn Paks agreement with Russia

Budapest, April 1 (MTI) – Hungary signed a 10-billion-euro credit agreement with Russia for an upgrade of its nuclear plant in Paks, central Hungary, Janos Lazar, the head of the prime minister’s office, said.

Lazar confirmed an earlier report by the Russian business daily Vedomosti, citing Russian deputy finance minister Sergei Storchak who told the Russian Interfax news agency on Monday that the agreement had been signed.

Lazar said the credit agreement would be submitted to the new parliament to form after the general election on April 6. He said the document has been sent to Brussels, too.

The Russian government approved a draft of the intergovernmental agreement on March 10. Prime Minister Dmitry Medvedev instructed several ministries as well as the Vnesheconombank and Russian contractor Rosatom to hold talks in the interest of signing the agreement.

Vedomosti and Interfax reports confirmed the content of the agreement in which the loan’s repayment period is set at 21 years. The first payment will be due on the March 15 or September 15 which falls closest to the start of operations at new blocks no 5 and 6 at Paks, but no later than March 15, 2026, the document cited by the paper said.

The opposition LMP party called on the government to publish information on the exact conditions of the Paks agreement. Bernadett Szel, the party’s co-chair, said it was outrageous that the Hungarian public learns about the signing through the Russian press. She called on the government to stop “hiding and misleading the public”.

She added that Prime Minister Viktor Orban is making a historic mistake, because Hungary will be paying back the loan long after his term as prime minister expires.

The opposition E14-PM alliance also called on the government to make the contract public in Hungarian. Co-chairman of the opposition Dialogue for Hungary (PM) party Benedek Javor told MTI on Tuesday that it was “unbelievable” that the Hungarian public had to find out about developments on Paks from the Russian press and called it “unacceptable and unprecedented” that the government signs a 3,000-billion-forint 30-year agreement just five days before the general election.

Gordon Bajnai, leader of E14-PM, said Orban was presenting irreversible facts a few days before the election by signing the agreement. He told a press conference that Orban was tying Hungary to Russia by committing to an agreement for more than thirty years without a parliamentary debate and mandate to do so.

Hungary signed an agreement on Jan. 14, 2014, on the construction of two blocks at the Paks nuclear power plant by Russia’s Rosatom. Russia is lending Hungary 10 billion euros at variable rates of 3.95-4.95 percent interest to cover 80 percent of the project’s costs, which Hungary is set to repay in euros.

Photo: MTI

Source: http://mtva.hu/hu/hungary-matters

If you would like to support the work of the Daily News Hungary staff and independent journalism,
please make a donation here
energy Russia
Share

Hot news

  • Government to extend mandatory discounts, deposit rate caps

  • What happened today in Hungary? – 25 September, 2023

  • PHOTO: President Novák meets Elon Musk in Texas

  • Here is the third-way alternative in Hungarian politics

  • The victory of Pákozd – a symbol of Hungary’s independence war

  • Hungarian minister shared how the EU’s competitiveness can be improved

Leave a Reply

Your email address will not be published. Required fields are marked *

SUPPORT US
  • Facebook
  • Twitter
  • Instagram

Must read

Subscribe to our newsletter

Sign up to receive daily updates, news & stories about Hungary!

Select your location below or enter your country so we can deliver our morning newsletters to you in time.

Thank you!

You have successfully joined our subscriber list.

.

Contact us

About us

Copyright rules

Privacy policy

Advertise with us

© 2023 DailyNewsHungary. All rights reserved! | Server and development by Svigelj Levente E.V
Government to extend mandatory discounts, deposit rate caps

Government to extend mandatory discounts, deposit rate caps

Read More
<b> What happened today in Hungary? – 25 September, 2023 </b>

What happened today in Hungary? – 25 September, 2023

Read More
PHOTO: President Novák meets Elon Musk in Texas

PHOTO: President Novák meets Elon Musk in Texas

Read More
Here is the third-way alternative in Hungarian politics

Here is the third-way alternative in Hungarian politics

Read More
The victory of Pákozd – a symbol of Hungary’s independence war

The victory of Pákozd – a symbol of Hungary’s independence war

Read More
Hungarian minister shared how the EU’s competitiveness can be improved

Hungarian minister shared how the EU’s competitiveness can be improved

Read More
Hungarian star journalist expelled from Golden Globe

Hungarian star journalist expelled from Golden Globe

Read More
PM Orbán kicked off the new political season: Soros empire, Brussels bureaucrats and American democrats enemies

PM Orbán kicked off the new political season: Soros empire, Brussels bureaucrats and American democrats enemies

Read More
Sorrowful prediction: Pines to disappear from Hungary

Sorrowful prediction: Pines to disappear from Hungary

Read More
<strong> Hungarian minister confident about Paks nuclear power plant’s Russian upgrade </strong>

Hungarian minister confident about Paks nuclear power plant’s Russian upgrade

Read More
  • 0
  • 1
  • 2
  • 3
  • 4
Have you read it?