February 6, 2018 / 7:05 AM / a year ago

Hungary to repay 78 mln euros of Russian nuclear loan early -paper

BUDAPEST, Feb 6 (Reuters) - Hungary will repay 78.2 million euros ($96.8 million) worth of a Russian loan used to finance the expansion of its Paks nuclear power plant, Economy Minister Mihaly Varga told the business daily Vilaggazdasag on Tuesday.

Hungary plans to build two Russian VVER 1200 reactors for a total budget of 12.5 billion euros, of which 80 percent will be financed by Russia and 20 percent by Hungary.

Varga said Hungary wanted to keep the loan agreement in place to serve as a “safety net” for the project.

But he told the paper that Hungary would continue to make early loan repayments as long as the low interest rate environment makes this feasible.

$1 = 0.8076 euros Reporting by Gergely Szakacs; Editing by Robin Pomeroy

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