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Coronavirus: First Tenders for Rechannelled EU Funding Called

MTI-Hungary Today 2020.05.14.

The first tenders for European Union funding earmarked for economic development that has been rechannelled to measures that aim to shield the economy from the impact of the coronavirus pandemic were announced on Thursday.

State secretary for utilisation of EU funding Balázs Rákossy announced tenders for just over 52 billion forints (EUR 147m) in funding available to microbusinesses and SMEs to make developments that help them “adapt to modern business and production challenges”.

The tenders aim to shield against the economic fallout from the pandemic by supporting investments that preserve workplaces, he said.

He added that 33.3 billion forints of the funding is being made available in the framework of the Economic Development and Innovation Operative Programme (GINOP) and 18.8 billion forints in the Competitive Central Hungary Operative Programme (VEKOP).

EU’s Coronavirus Aid Package: How Much Money does Hungary Get?

Finance Minister Mihály Varga announced a week earlier that the government decided to redirect 310 billion forints in grant money and 110 billion forints in 0-percent credit from the GINOP to support the government’s economic defense measures.

Featured photo by Noémi Bruzák/MTI