Hungarian companies have more time to apply for rescue money

The government is giving companies extra time to apply for central funding as part of a scheme to rescue plants that are under financial strain due to current economic conditions linked to the war in Ukraine, the minister of foreign affairs and trade announced on Thursday.

The application window for the scheme which supports investments that boost energy efficiency is being extended by four months, Péter Szijjártó said.

Fully 168 companies initially made requests for subsidies totalling HUF 200 billion (EUR 488m) for 500 billion worth of investments. Another 214 companies began the registration procedure but were unable to complete it within the original timeframe.

Szijjártó said every company in Hungary and every job “is important to us”, adding that the 214 companies in question will be allowed to complete their applications — most of which are from the food and metal industries, as well as vehicle manufacturing and the chemical industry.

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Source: MTI