(ANSA) - TRIESTE - European anti-fraud office (Olaf) found serious irregularities in contracts for Budapest Metro Line 4 project. Olaf has recommended that Hungary refund the Eu nearly 300 mln euro: it recommended that the European Commission department responsible for regional and urban policy reclaim 228 mln and that the European Investment Bank be repaid 55 mln, Politico said. "There is a serious fraud suspected in the ongoing criminal investigation", according to Olaf. The total amounts of contracts affected reaches 1 bln euro: 60% of the project's total cost.

Budapest Metro Line 4 project is the most expensive Eu financed infrastructure development project in Hugary implemented during 2007-2013. The total cost of the project amounted to 1.7 bln: 679 mln were financed under Eu's Cohesion Fund. According to Olaf's investigation, a series of management irregularities and errors, possible fraud and other offences were identified from the very beginning of the project. The Eib said it is considering how to respond to the recommendations from Olaf, and that in the past it has requested repayment of loans when corruption has been uncovered. Hungary's chief prosecutor's office is carrying out an investigation into a political figure connected with carriage procurement for the M4 line. The investigation is expected to conclude in April.

(ANSA).