Speaking at his regular weekly press conference yesterday, Lázár said that whether the renovation project, which is estimated at HUF 140 billion, could receive funding from the European Union was a “difficult question”, as the EC recommends the investment be financed by a lender as it is recoupable one, Hungarian news agency MTI reported.

The chief added that the European Investment Bank could finance the renovation, as such an EIB loan would be backed by a state guarantee.

Source: BBJ

Republished with permission