Another 50 billion forints (EUR 144m) is available in the coming years for building public educational institutions and school sports facilities, Mihály Varga, the finance minister, announced after signing a loan agreement with the Council of Europe Development Bank (CEB).
The low-interest loan can be used to build and renovate schools, sports halls, gyms and swimming pools, Varga noted, helping almost 10,000 young people.
In 2016, Hungary concluded the first loan agreement on the development of educational institutions with the CEB and the European Investment Bank, each loan worth 15 billion forints, according to the finance ministry. More than 80 education institutions have been renovated and around 50 sports facilities built as a result.
In January, a loan agreement totalling 50 billion forints was concluded with the European Investment Bank. The current agreement with the CEB forms the next stage, guaranteeing the construction of 8 schools, 16 classrooms, 20 gyms, 26 training pools and 17 handball halls.
Featured photo illustration by György Varga/MTI