hungary signs 10 billion euro nuclear deal

http://www.politics.hu/20140401/hungary-signs-eur-10-billion-paks-agreement-with-russia/

April 1st, 2014
Hungary signs EUR 10 billion Paks agreement with Russia
BY MTI

Hungary signed a 10-billion-euro credit agreement with Russia for an upgrade of its nuclear plant in Paks, central Hungary, Janos Lazar, the head of the prime minister’s office, said.

Lazar confirmed an earlier report by the Russian business daily Vedomosti, citing Russian deputy finance minister Sergei Storchak who told the Russian Interfax news agency on Monday that the agreement had been signed.

Lazar said the credit agreement would be submitted to the new parliament to form after the general election on April 6. He said the document has been sent to Brussels, too.

The Russian government approved a draft of the intergovernmental agreement on March 10. Prime Minister Dmitry Medvedev instructed several ministries as well as the Vnesheconombank and Russian contractor Rosatom to hold talks in the interest of signing the agreement.

Vedomosti and Interfax reports confirmed the content of the agreement in which the loan’s repayment period is set at 21 years. The first payment will be due on the March 15 or September 15 which falls closest to the start of operations at new blocks no 5 and 6 at Paks, but no later than March 15, 2026, the document cited by the paper said.