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Jun 17, 2020

Government pumps more funds into education and school sports facilities

The finance minister has revealed that another HUF 50 billion (EUR 144m) will be available in the coming years for building public education institutions and school sports facilities.

 

The finance minister has revealed that another HUF 50 billion (EUR 144m) will be available in the coming years for building public education institutions and school sports facilities. Mihály Varga announced the news during a video on social media after signing a loan agreement with the Council of Europe Development Bank (CEB).

According to MTI, the low-interest loan can be used to build and renovate schools, sports halls, gyms and swimming pools, helping almost 10,000 young people.

In 2016, Hungary concluded the first loan agreement on the development of education institutions with the CEB and the European Investment Bank, each loan worth HUF 15 billion. More than 80 education institutions have been renovated and around 50 sports facilities built as a result.

In January, a loan agreement totalling HUF 50 billion 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.

Photo credit: vehir.hu