In 1993, the European Bank for Reconstruction and Development financed Hungary’s first motorway concession project. After almost a decade, EBRD will once again lend - to the tune of $118 million - for a similar endeavor, the 48-kilometer M6 motorway.
The Hungarian motorway projects have not only received constant EBRD funding but have also been consistently supervised by Peter Reiniger.
Reiniger was the bank’s country director in Hungary during the construction and restructuring in 1999 of the country’s first EBRD-funded motorway project. Currently, he serves as business group director for Central Europe and again oversees the bank’s portfolio in Hungary as it welcomes its third private road operator.
“[I] am delighted to see the development of the policy and legal framework for concessions in Hungary and to support this programme approach of the Hungarian government to motorway financing,” he told Devex in an email interview.
Reiniger joined EBRD in 1991. He also served as director of the bank’s telecommunications and industry and commerce departments. Reiniger holds mechanical and industrial engineering degrees from the Technical University of Budapest.
As the business group chief in Central Europe, Reiniger is in charge of “maximiz[ing] the bank’s transition impact before graduation” as EBRD intensifies its operations further east to the Western Balkans, Central Asia and Russia.
He said Central Europe accounts for 20 percent of the bank’s portfolio, which includes support for health care and infrastructure projects of private firms in the region.
Reiniger noted the challenge of identifying projects with high transition impacts that will enable countries to move closer toward a full market economy. But the bank always makes sure that the projects will be for the benefit of the people in the region.
And his hope for the future of economic modernization in Central Europe?
“I hope that the banking sector in Central Europe will take over our role in financing the modernization of the economy,” he said. “We will continue to work hard to contribute to the EU approximation process in Western Balkans.”
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