The European Investment Bank (EIB) has continued its support for the extension and modernisation of Budapest underground by lending €85m for the purchase of 22 new metro trains to be used on Budapest’s Metro Line II. Previously, in 2005 the Bank provided €875m for the construction of Metro IV.

The new 110 metre long trains with five coaches will replace 35-year-old rolling stock on the currently rehabilitated M2 underground line in Budapest. The project also covers the delivery of spare parts needed for train maintenance and upgrading of the existing metro car depot.

The modernisation will make public transport safer, more comfortable and the new trains will have better energy/fuel efficiency.

The Municipality of Budapest will be the borrower and it will lend-on the EIB funds to Budapest Transport Limited (BKV Rt.), the major urban transport provider in Budapest city and the neighbouring area.
Mr. Wolfgang Roth, EIB Vice-President who signed the loan, stated: “A well-developed and modernised metro will reduce daily commuting times and it will further encourage Budapest residents to use public transport with positive consequences on their quality of life, as well as on the city’s environment.”