EIB funds €47m in Volán for eco-friendly buses

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Commuters in Hungary will enjoy new, faster, safer and more eco-friendly buses on regional and city lines across Hungary as a result of a €47m loan the European Investment Bank (EIB) signed today with Volán Buszpark Kft, the country’s biggest bus fleet management company. This is the first tranche of a €140m loan approved by the EIB, which combined with commercial bank finance, will help to upgrade nearly half of Volán’s bus fleet. The loan is provided under the Investment Plan’s European Fund for Strategic Investments (EFSI) as it addresses the EFSI objective of smart and sustainable urban mobility in the European Union. With the EIB’s support, Volán plans to add 3,200 new buses over the next four years and improve the energy efficiency, safety and quality of public transport in Hungary, where two-thirds of towns are reachable only by bus. In 2018, Volán transported 700 million commuters across Hungary. Financing from the EIB, the EU’s climate bank, will make a positive impact on climate and the environment. More than 450 buses, purchased under the loan for inner city routes, should run on alternative fuels, reducing pollution in Hungarian cities. The rest of the bus fleet will run on the latest EURO VI technology engines. With its new buses, Volán will reduce CO² emissions by up to 38% over the next four years.