Hungary to draw on €1-b credit line
BUDAPEST,Hungary – Budapest and Beijing signed seven cooperation accords during a visit by China’s likely next premiere Li Keqiang that are to draw on a massive credit line unveiled last year, the Hungarian government said yesterday.
The billion-euro ($114-billion) credit line with the China Development Bank was announced in June 2011 but has yet to be tapped.
The agreements cover a future logistical centre for the Huawei telecoms company in Hungary and a high-speed rail link between Budapest and its airport, a government statement said.
Huawei will invest around (euro) 10 million euros in the new regional centre, the statement said.
Li, who arrived in Hungary on Monday for a two-day visit, will head next to Brussels.
Chinese Premier Wen Jiabao is expected to be replaced by Li next year.