“A new program is being launched to support Hungarian enterprises that are prepared to realise at least 560 million forints (EUR 1.6 million) in investment in the interests of protecting workplaces that have become endangered because of the coronavirus epidemic”, Minister of Foreign Affairs and Trade Péter Szijjártó said on his Facebook page on Saturday.

In a video published on his social media page, Mr. Szijjártó said: “Hungary has come to an agreement with the European Commission concerning the fact that it may provide state funding with no upper limit to enterprises that realise investment projects in the interests of protecting workplaces”. “Companies will be able to submit their applications for funding from next week. A maximum of half the volume of the investment may be awarded in funding, meaning that in the case of a 560-million-foreign investment, an enterprise will be eligible to receive 280 million forints (EUR 800 thousand) in funding”, he explained.

“Hungary has won the first, healthcare phase of the fight against the coronavirus epidemic, and is now prepared to work together with Hungarian enterprises and the Hungarian people to also win the second, economic phase of protection”, he highlighted. The Minister said that in his view this is only possible if people work and have jobs, and accordingly the goal of the program is for enterprises to preserve workplaces and create new ones. In the post linked to the video, Mr. Szijjártó wrote: “Economies don’t get strong from international loans that lead to vulnerability, but from people’s work”. Applications for funding may be submitted until 30 September at the latest, and the related investment projects must be realised within a period of two years, the Minister added.

(Ministry of Foreign Affairs and Trade/MTI)