{"id":137858,"date":"2024-10-08T19:06:08","date_gmt":"2024-10-08T09:06:08","guid":{"rendered":"https:\/\/www.railfreight.com\/?p=56875"},"modified":"2024-10-08T19:06:08","modified_gmt":"2024-10-08T09:06:08","slug":"hungary-cant-quite-meet-its-10-billion-euro-rail-funding-ambitions-laments-lack-of-eu-funding","status":"publish","type":"post","link":"https:\/\/www.vibewire.com.au\/?p=137858","title":{"rendered":"Hungary can\u2019t quite meet its 10 billion euro rail funding ambitions, laments lack of EU funding"},"content":{"rendered":"

Hungary is planning to invest the equivalent of 10 billion euros in its rail infrastructure, including track modernisation and renewal of the country\u2019s rolling stock fleet. Where those 10 billion euros are supposed to come from remains unclear, and a Hungarian government official laments a lack of EU funds for the government\u2019s plans.<\/strong>
\n<\/span>The 10 billion euro investment plan was announced by N\u00e1ndor Csepreghy, Hungary\u2019s Deputy Minister of Construction and Transport. The deputy minister pointed out that Hungary\u2019s railway infrastructure trails its Western European counterparts, and that the government has the political will to change that.<\/p>\n

With the money, Hungary wants to renovate nearly 500 kilometres of railway tracks, remove 119 kilometres of slow signs, introduce a modern traffic control system and expand the rolling stock fleet. However, it cites a lack of EU financing as an obstacle for fulfilling its spending ambitions.<\/p>\n

Out of the planned 10 billion euros, Hungary has so far managed to secure one billion euros in domestic funding. Moreover, it is applying for a one billion euro loan from the European Investment Bank, which it expects to be approved by next year. Where the remaining 8 billion euros are supposed to come from remains unclear.<\/p>\n