Release date: 29 May 2006
Promoter – Financial Intermediary
The Ministry of Finance will act as borrower and channel the funds to the individual schemes to fund project activities. Promoters/final beneficiaries of the proposed EIB loan would be various local governments promoting projects to be submitted for Cohesion Fund support under the new EU programming period (2007-2013) and in some cases state-owned companies and agencies.Location
Description
The loan will part-finance the Hungarian national contribution for projects/programmes to be supported by the Cohesion Fund between 2007-2013, mainly in the fields of transport and environment.
Objectives
The proposed operation will complement EU grant support from the Cohesion Fund. It will contribute to the accelerated preparation and implementation of eligible investments, which are expected to foster Hungarian economic and social development and integration within the EU.
Comments
Environment
Sector(s)
Proposed EIB finance (Approximate amount)
EUR 300 million
Total cost (Approximate amount)
EUR 8200 million
Environmental aspects
The sub-projects/programs will comply with any environmental requirements defined in the guidelines for the Cohesion Fund. For any Annex I or II schemes as defined under the EIA Directive, the Bank will ensure their compliance with the requirements of EU law. The Bank will also ensure that all schemes comply with EU nature conservation legislation.
Procurement
The Bank will require the Promoter to ensure that contracts for the implementation of the project shall be tendered in accordance with the applicable national and EU procurement legislation, with parallel publication of tender notices in the EU Official Journal, as and where appropriate.
Status
Signed - 30/11/2006