Release date: 18 September 2007
Promoter – Financial Intermediary
Republic of Hungary, acting through the Ministry of Finance.
Location
Description
The project consists of the co-financing with the European Regional Development Fund of investments in the road sector included under the Improvement of Regional Accessibility priority of the Hungarian Transport Operational Programme 2007-13. It aims at improving regional accessibility by upgrading and/or increasing traffic and load-bearing capacity of connecting roads to the TEN network in Hungary. It will also co-finance the construction of a number of by-passes to towns crossed by national roads presently suffering from the transit of long-distance traffic.
Objectives
The projects to be co-financed by the Bank will be structured to meet the priorities set in the Transport Operational Programme Infrastructure and shall contribute to assist Hungary in achieving further convergence in levels of social development with the rest of EU.
Sector(s)
Proposed EIB finance (Approximate amount)
In the order of EUR 200 million.
Total cost (Approximate amount)
Approximately EUR 1.796 million.
Environmental aspects
As a new member of the Union, Hungary has harmonised its environmental legislation with the relevant EU Directives. All investments that may benefit from EU support must fully comply with EU requirements. Taking into account that the majority of the projects will relate to extension of capacity of existing roads and by-passes, no major environmental issues are in principle expected.
Procurement
Tenders will be organised in compliance with EU requirements, a precondition for EU grant support. Tender notices will be published, as appropriate, in the EU Official Journal.
Status
Signed - 3/06/2008
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).