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Investment Plan: Over EUR 300 million invested in airport infrastructure, AI and electric vehicle technology

Continued expansion and upgrades of Hungary’s main international airport are at the core of the EUR 200 million loan agreement signed on 14 December between the European Investment Bank (EIB) and the Budapest Airport, the company operating Liszt Ferenc International Airport.

date:  20/12/2018

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Continued expansion and upgrades of Hungary’s main international airport are at the core of the EUR 200 million loan agreement signed on 14 December between the European Investment Bank (EIB) and the Budapest Airport, the company operating Liszt Ferenc International Airport. The EIB loan, backed by the European Fund for Strategic Investments (EFSI), the heart of the Investment plan for Europe (or Juncker plan), will allow Budapest Airport to continue to invest in major infrastructure upgrades. Also on 14 December, the EIB and Hungarian car technology company AImotive signed a EUR 20 million loan for investment in research and development of artificial intelligence (AI) software for self-driving vehicles. In Romania, the EIB is lending EUR 9.78 million to Romanian public company Societatea Nationala de Radiocomunicatii SA (Radiocom) to partially finance the digitalisation of the country’s terrestrial broadcasting infrastructure. On 13 December, the EIB agreed to provide EUR 40 million as quasi equity in growth financing to Allego Holding BV, a Dutch operator of charging stations for electric vehicles. The financing will help make EV charging stations more widely and easily available. The EIB is also providing a EUR 30 million loan to support Croatian Rimac Automobili in developing high performance electric vehicles and components. In Croatia, the European Investment Fund (EIF) agreed on 7 December to provide a guarantee to Privredna Banka Zagreb (PBZ) for a EUR 25 million portfolio of new loans to innovative small and medium-sized and small mid-cap businesses.