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The Loan for Paks is being Prepaid

Date: 02.19.2020

It is close to the ninety billion forints that the Hungarian side has drawn from the Russian credit line for the Paks II investment. However, most of the money used has already been repaid by the Hungarian government, meaning that no interest will have to be paid.


The Magyar Nemzet reports, that State Secretary of the Ministry of Finance presented recent data on how much the Hungarian side has withdrawn from the Russian credit line for the investment to maintain the capacity of the Paks Nuclear Power Plant, the Paks II project.

András Tállai, responding to a parliamentary question, said that according to the international credit agreement between the Russian Federation and Hungary, a total of EUR 239 million (about HUF 78.8 billion) has been drawn down by the Hungarian party since the opening of the credit line for NPP construction, most of the amount has already been prepaid.

So far, the Hungarian government has paid a total of EUR 1,821 million (HUF 600 million) within the time limits specified in the contract. The 2014 intergovernmental agreement includes a credit line of EUR 10 billion (HUF 3,300 billion).


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