Central bank chief urges setting up Carpathian Basin innovation region

Budapest, December 14 (MTI) – Central bank governor Gyorgy Matolcsy on Monday called for the creation of a Carpathian Basin innovation region to boost the region’s economic development.

Speaking at a conference organised by the central bank’s Foundation of Pallas Athene Domus Innovationis (PADI), the governor of the National Bank of Hungary (NBH) said small and medium-sized enterprises (SME), universities and trade chambers would have key roles in shaping the region of innovation.

Matolcsy said innovation was the engine of growth in the Carpathian Basin. He said the central bank must uncover the region’s “centres of knowledge” and dynamic SMEs that can help enhance innovation and economic development in the area.

The NBH governor noted that the bank’s Funding for Growth Scheme has helped 28,000 SMEs obtain loans, giving them the chance to grow. He said the central bank’s acquisition of a majority stake in the Budapest Stock Exchange was also aimed at strengthening SMEs.

Matolcsy said Hungary’s banking sector would undergo further changes to allow it to better contribute to the development of innovative companies.

He said Budapest is now an innovation hub akin to the innovation districts of London or Paris.

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