The Cabinet has discussed the bilateral loan agreement between the Hungarian and the Russian Governments for the financing of the Paks atomic power plant project –Government Spokesperson András Giró-Szász told Hungarian news agency MTI today.

The government will put the agreement before Parliament for ratification in the usual manner, he added.
The loan agreement will come about with regard to ten billion euros and with four interest zones - 3.95, 4.5, 4.8 and 4.95 percent, "while upholding the Hungarian party's right to affect early repayment at any time, and the right of the Ministry of National Economy (NGM) to approve payments, which clearly means full Hungarian control over costs and payments, the Spokesperson said.
Mr. Giró-Szász noted that according to calculations by the Ministry of National Economy, the Paks project will result in GDP growth of 1% and the creation of more than 9.000 jobs, while "clearly not endangering the decreasing tendency of government debt".

(Prime Minister’s Office)