The Hungarian Bank of Development (MFB) has taken out a more than €75m loan from the European Investment Bank, according to an MfB announcment. The money was taken to finance MFB’s Hungarian-Slovak gas project with MVM, through which a gas pipeline will be built. The 115 km pipeline will be a part of the north-south corridor running from Poland to the Croatian shore, serving as a connection between Slovakia and Hungary. The line’s total cost is over €160m, of which €30m is coming from the European Union. An MFB subsidiary called MFB Invest Zrt owns 49% of the shares in Hungarian Gas Transit, a project company established together with Hungarian Electrical Works.
