The EIB has approved a €47million loan to the biggest bus company in Hungary.  Volán will now be able to invest in upgrading the fleet to provide commuters across Hungary with new, eco-friendly buses at regional and city level.  The company says that the buses will be faster and safer than ever before.

This loan represents the first part of a loan from the EIB which totals €140million.  Combining this with commercial banks loans means a widespread upgrade of the majority of Volán’s fleet.  The loan ihas been approved as part of the EU’s quest to bring in smart, sustainable transport under the EFSI (European Fund for Strategic Investments) fund.  The level of financial support means that Volán can finally look at the fleet’s energy efficiency and increase the quality and safety of transport within Hungary.  The company is said to have moved around 700million Hungarian commuters each year.