Budapest City Hall

Budapest assembly votes to take out HUF 32 billion loan

The Budapest Assembly on Wednesday voted to take out a 32 billion forint (EUR 80.1m) development loan.

According to the resolution approved by city councillors, Budapest will obtain the 20-year loan from the consortium led by OTP Bank to finance developments planned for this year.

The loan agreement will require the approval of the government.

The decision passed with 17 votes in favour and 9 votes against from ruling Fidesz-KDNP councillors.

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