EU funding to drop in future, says official

Budapest, June 22 (MTI) – Political conflicts pressuring the European Union will mean funding to cohesion countries is likely to diminish in future, a communications official said.

Effective use of EU funding is advisable before resources start to dwindle, Nandor Csepreghy told public news channel M1 late on Sunday.

To meet this aim authorities will encourage the use of loans over grants, as the former can ensure that development projects are carried out which can generate revenue for the state, too, Csepreghy, deputy state secretary at the Prime Minister’s Office, said.

For the moment, grants will still prevail among types of support until 2020, but their weight will gradually be reduced each year, he added.

Csepreghy gave warning against fraudsters promising fast access to remaining EU funding for the 2007-2013 period, charging a finder’s fee, which he said was a crime. He asked businesses to report such activity to the police.

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