"Hungary’s government and the City Hall have reached an agreement on a HUF 23 billion (EUR 83.36 m) rescue package to be granted in several instalments in 2010 to cash-strapped Budapest Transport Company (BKV), local newswire MTI reported.Prime Minister Gordon Bajnai and Budapest Mayor Gábor Demszky have met on Tuesday for the second time to seal the deal.
Government spokesman Domokos Szollár said the cabinet will ensure the financial help to the troubled company only if BKV meets the conditions for the aid. Details of the agreement will be stipulated in a contract, which is expected to be signed on Wednesday.
Local daily Népszava informed the public about the HUF 23 bn rescue package on Monday. Then Szollár said the deal was not finalised and also that the sum cited by the paper was wrong. Well..., it wasn’t. We believe the conditions mentioned by the paper will also be largely if not entirely the same."
Source: Portfolio Online Financial Journal
16.12.2009