Russia has agreed to give Hungary a five-year delay on payments for the Russian-led expansion of the Paks nuclear power plant south of Budapest, Hungary’s finance ministry said.

Budapest wants to expand the facility, which already has four Russia-supplied units that began operation from 1983 to 1987, with two Russian VVER reactors. A €10bn loan from Russia finances most of the €12.5bn project, which is being led by Russian state nuclear corporation Rosatom.