Paks Project Financier Faces Problems
- 17 Jun 2016 9:00 AM
Vnesheconombank the Russian lender chosen to finance the expansion of the Paks nuclear power plant, is facing serious financial difficulties, Bloomberg news agency reports. The bank needs a $20 billion bailout package, according to the report.
It is selling its assets at below-market prices, and has in effect stopped lending and stopped financing existing projects, sources told the agency.
The Prime Minister’s Office refused to comment to news website 444 about the report.
Source: Hungary Around the Clock
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