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Signature(s)

Amount
€ 300,000,000
Countries
Sector(s)
Hungary : € 300,000,000
Transport : € 150,000,000
Water, sewerage : € 150,000,000
Signature date(s)
30/11/2006 : € 50,000,000
30/11/2006 : € 50,000,000
14/12/2007 : € 100,000,000
14/12/2007 : € 100,000,000
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Summary sheet

Release date
29 May 2006
Status
Reference
Signed | 30/11/2006
20040589
Project name
Promoter - financial intermediary
Cohesion Fund Framework Loan
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.
Proposed EIB finance (Approximate amount)
Total cost (Approximate amount)
EUR 300 million
EUR 8200 million
Description
Objectives

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.

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.

Environmental aspects
Procurement

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.

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.

Comments

Environment

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Disclaimer

Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).

General enquiries and comments

The EIB is committed to open communication and encourages constructive stakeholder input regarding its activities.
Enquiries and comments concerning the EIB’s involvement in a project or the financing facilities, activities, organisation and objectives of the EIB, can be sent to the EIB Infodesk.
Alternatively, the EIB can be contacted through its external offices.
Queries regarding details of a specific project, in particular when it is under appraisal by the EIB, should preferably be addressed directly to project promoters.

Media enquiries

Media-related enquiries can be addressed to the EIB Press Office. Please also visit our Media information section.

Complaints mechanism

Any complaint regarding alleged maladministration can be lodged via the EIB Complaints Mechanism. The European Ombudsman acts as an independent external accountability mechanism of the EIB.

Zero tolerance against fraud and corruption

The EIB has a zero tolerance policy on fraud or corruption. To report allegations of fraud and corruption relating to EIB-financed projects, please contact the Fraud and Investigation division. All complaints will be treated as strictly confidential and handled in line with the EIB investigation procedures and the Anti-Fraud Policy.

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