March 13th, 2014Russian government approves loan to finance...

March 13th, 2014
Russian government approves loan to finance nuclear plant expansion

The Russian government has earmarked a 10-billion-euro loan to finance Hungary’s Paks nuclear power plant upgrade, Russian news agency Interfax said on Thursday.

The document on the government decision, published on Thursday on the official legal information portal, was signed on Monday by Russian Prime Minister Dmitry Medvedev. The decree authorised the Russian finance, economy and foreign ministries, Rosatom and Vnesheconombank to start talks with the Hungarian government in order to prepare the loan contract.

Russia is extending Hungary the loan to build two new blocks at the Paks plant. It will cover 80 percent of the cost. Hungary can draw down the loan from 2014 to 2025.

Russia’s Rosatom is the general contractor for the blocks.

http://www.politics.hu/20140313/russian-govt-approves-loan-to-hungary-to-finance-nuclear-plant-expansion