Hungary earmarks EUR 28.7m for infrastructure, economic investments in NE Hungary, Transcarpathia

Budapest (MTI) – The government has earmarked about 9 billion forints (EUR 28.7m) for infrastructure investments and economic development programmes in northeastern Hungary and Transcarpathia for this year and the next, a foreign ministry state secretary said on Saturday.

Levente Magyar said 1.5 billion forints will be allocated towards the construction of a fruit processing plant in Tarpa in Szabolcs-Szatmár-Bereg county and a bicycle path between the town and Badalovo (Badaló) in Transcarpathia. Plans are to have the fruit processing plant completed in 2017, Magyar said, adding that the government will soon begin official talks with the Ukrainian government about the construction of the bicycle path.

The government will earmark 2.5 billion forints in grant money to Transcarpathian small and medium-sized enterprises in 2016 and 5 billion forints next year, Magyar said. Apart from the 7.5 billion forints, a 20 billion forint credit line will be opened to support the business activities of local SMEs.

Photo: MTI

Source: http://mtva.hu/hu/hungary-matters