EBRD loan contract approved for e-ticket system
A €54.5 million European Bank for Reconstruction and Development (EBRD) loan to the Budapest Transportation Center (BKK) to upgrade the public transportation ticketing system has been approved by the local council.
In late July, the EBRD board okayed the loan, with terms set at eight years at a 2.7% to 3.3% interest rate. A series of tenders will be launched for suppliers of the electronic ticket system, and winners of said tenders are to be announced by early 2014; the total cost of the project is projected to be €67.7 million.
BKK’s plan calls for the phasing out of paper tickets in 2015, and among the resources to be created with the loan are validation equipment for over 2,200 public-transport vehicles and train cars, 9,000 smartcard readers, 3 million smartcards, 700 hand-held inspection devices and a back-office system for data collection.
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