The must-have newsletter about Hungary

BUDAPEST ASSEMBLY APPROVES HUF 24 BN LOAN FOR PUBLIC TRANSPORT COMPANY

 

The Budapest assembly on Wednesday approved an agreement between Budapest public transport company BKK and K and H Bank, of a 24 billion forint (EUR 63.9m) loan, as part of the municipality’s “survival programme”. The proposal, submitted by Deputy Mayor Ambruss Kiss, was carried with 17 votes in favour, 2 against and 9 abstentions. The loan will ensure BKK’s operation between June and September, and will have to be paid back by September 18, the proposal said.