The Hungarian government is attempting keep the details of a rail project connecting Budapest to Belgrade secret, claiming that this will speed the signing of a loan deal with China. It’s part of the One Belt, One Road project that’s expected to cost more than €2bn. The project will require a loan that would be taken out with the Chinese Export-Import bank. It’s unclear what sort of interest rate the country would end up paying, but publishing details at this point could complicate what are reported to have been difficult negotiations. Terms allegedly include treating the project as being of strategic importance, thus freeing it from some of the normal regulations that govern infrastructure projects. It’s also believe that Hungary expects to pay roughly 85 percent of the bill using its own funds.
