EIB financing in Hungary
Friday 15 June 2012
The European Investment Bank (EIB) is lending some €63 million to finance emergency, reconstruction and preventive measures related to two major disasters that hit Hungary in 2010. In the area of flood recovery and prevention, the EIB loan will finance measures focused on restoring the previous protection level, with reconstruction and replacement of flood defence infrastructure and buildings, flood risk mitigation rehabilitation and the repair and construction of dykes, emergency and storm water reservoirs. Regarding the damaged red sludge dam, the project will support measures limiting the impacts in affected areas.