Wednesday, January 11, 2006

Hungary Gets EUR 190 Million Loan for Telecom Modernization

The European Investment Bank (EIB) will loan EUR 190 million to Hungary for upgrading its broadband infrastructure. The loan will finance the extension of the geographical coverage of the existing Hungarian broadband services and the increase in the number of broadband connections, and their capacity and performance. Magyar Telekom, the major fixed-line and mobile phone Company in Hungary, is the project promoter.