The bike rental system will be introduced in the Nagykörút-bordered area of the capital city and on the bank of the Danube on the Buda side of the river. The first 30 minutes will be free of charge.

A final decision on an EU grant for the project is expected in May. EU funds would total HUF 900 m and own funds would total HUF 420 m, of which HUF 260 m VAT will be refundable.

They plan to have 70-80 docking stations for the bikes, which means people can rent and then return bikes with the use of annual registration cards every 300-500 metres."

Source: Portfolio Online Financial Journal