“A tender with a budget of 7.3 billion forints (EUR 21.15 million) has been published to facilitate the development of the Hungarian green economy. Applications may be submitted from 31 August 2020”, Minister of Finance Mihály Varga said in a statement to Hungarian news agency MTI.

“The winning enterprises will be able to spend the 20-400 million forints (EUR 58 thousand -1.16 million) in funding to, amongst others, procure new equipment, develop technological systems, and an infrastructure and property development projects”, the Minister detailed.

“Funding SMEs is particularly important during the coronavirus epidemic, as it could create jobs, help to maintain the competitiveness of the Hungarian economy, and also contribute to enabling Hungary to retain the place it has achieved as one of the frontrunners in the European Union with relation to economic growth”, Mr. Varga underlined. “In addition to environmental protection targets, the government would also like to assist micro-, small-, and medium-sized enterprises through funding their investment projects relating to the green economy”, the Minister added.

The construction, which has been published within the framework of the Economic Development and Innovation Operational Program (EIDHR), will facilitate the development of individual products and processing industry enterprises that are capable of moving forward within the supplier value chain, and which represent the industrial and production side of investment projects relating to the green economy.

“Via the investment projects that are realised, the use of facilities with modern infrastructure will increase, and the level of technological development and the supply of assets and capital will improve among enterprises that operate in related sectors of industry”, Mr. Varga told the press. “All this will contribute to achieving higher productivity and a higher domestic added value, in addition to which it will also facilitate a reduction in the environmentally damaging effects of industrial activities”, the Minister underlined.

(MTI/Cabinet Office of the Prime Minister)