Orbán to Borrow from China for Fudan University’s €1.5B Budapest Campus, Which Costs More Than to Run Hungary's Entire Higher Education System for a Year
A report published by the Hungarian investigative journalism centre Direkt36 on 6 April says Fudan University’s new Budapest Campus, the first European campus of the Chinese university, will cost a whopping 1.5 billion euros (around 13.9 billion HK dollars)—more than what the eastern European country spent on its entire higher education system in 2019. The project will depend mainly on Chinese loans. The report further reveals that the Hungarian Ministry of Innovation and Technology, which will supervise the project, has recommended the China State Construction Engineering Corporation (CSCEC) to be the builder with the firm indicating that a certain amount of Chinese material and labour will be employed.
The non-profit Direkt36 has gained access to a series of documents about the new campus, including a draft proposal by László Palkovics, Hungary’s innovation and technology minister. According to the proposal, the government estimates the cost to be 1.5 billion euros without taking into account the infrastructure costs and other expenses. This exceeds its entire expenditure on the country’s higher education system in 2019, which clocked in at 1.3 billion euros (around 12 billion HK dollars). It is further stated in the proposal that part of the cost will be covered directly by Hungary with the rest covered by loans from China. The China Development Bank will provide a loan of 1.3 billion euros on preferential terms.
According to Direkt36, the CSCEC made a bid of under one billion euros (around 9.23 billion HK dollars) and secured the innovation and technology ministry’s recommendation. The report says the CSCEC made it clear in its tender that a certain number of Chinese workers will take part in the project and building material will be imported from China. The report says further that the Hungarian government has decided that China shall be the sole constructor with a commissioner appointed by the innovation and technology ministry supervising the project.
Source: Stand News #Apr08
#Hungary #China #Fudan #Education #Diplomacy
https://bit.ly/3soyrBN
A report published by the Hungarian investigative journalism centre Direkt36 on 6 April says Fudan University’s new Budapest Campus, the first European campus of the Chinese university, will cost a whopping 1.5 billion euros (around 13.9 billion HK dollars)—more than what the eastern European country spent on its entire higher education system in 2019. The project will depend mainly on Chinese loans. The report further reveals that the Hungarian Ministry of Innovation and Technology, which will supervise the project, has recommended the China State Construction Engineering Corporation (CSCEC) to be the builder with the firm indicating that a certain amount of Chinese material and labour will be employed.
The non-profit Direkt36 has gained access to a series of documents about the new campus, including a draft proposal by László Palkovics, Hungary’s innovation and technology minister. According to the proposal, the government estimates the cost to be 1.5 billion euros without taking into account the infrastructure costs and other expenses. This exceeds its entire expenditure on the country’s higher education system in 2019, which clocked in at 1.3 billion euros (around 12 billion HK dollars). It is further stated in the proposal that part of the cost will be covered directly by Hungary with the rest covered by loans from China. The China Development Bank will provide a loan of 1.3 billion euros on preferential terms.
According to Direkt36, the CSCEC made a bid of under one billion euros (around 9.23 billion HK dollars) and secured the innovation and technology ministry’s recommendation. The report says the CSCEC made it clear in its tender that a certain number of Chinese workers will take part in the project and building material will be imported from China. The report says further that the Hungarian government has decided that China shall be the sole constructor with a commissioner appointed by the innovation and technology ministry supervising the project.
Source: Stand News #Apr08
#Hungary #China #Fudan #Education #Diplomacy
https://bit.ly/3soyrBN
立場新聞 Stand News
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上海復旦大學計劃於匈牙利布達佩斯開設首家歐洲分校。匈牙利調查報道機構 Direkt36 昨日（6 日）發表報道...