EIB finances eco-friendly buses in Hungary with €47m loan

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Social infrastructure

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Europe

The European Investment Bank has agreed a €47 million loan to Volán Buszpark, Hungary's biggest bus fleet management company, to finance the upgrade of almost half of the group's fleet.

Volán plans to use the loan - which is the first tranche of €140 million in financing approved by the EIB - to add 3,200 new buses over the next four years and improve the energy efficiency, safety and quality of public transport in Hungary.

More than 450 buses, purchased under the loan for inner city routes, should run on alternative fuels, reducing pollution in Hungarian cities. The rest of the bus fleet will run on the latest EURO VI technology engines. With its new buses, Volán will reduce CO₂ emissions by up to 38% over the next four years.

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