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Hungary to support Vojvodina economy development with 130 million euros

Hungary to support Vojvodina economy development with 130 million euros

Subotica (MTI) – The Hungarian government will provide this year close to 40 billion forints (EUR 130m) to support the economic development of Vojvodina (in Hungarian: Vajdaság) in northern Serbia with a large Hungarian community, a senior foreign ministry official said in Subotica (Szabadka) on Tuesday.

The programme last year supported 2,400 applicants with more than 4 billion forints, state secretary Levente Magyar told a press conference.

Contracts this year will be signed with 3,799 applicants who will receive between 5,000-6,000 euros, respectively, he said.

Winners of a large-scale investment package for the construction of grain stores, and fruit and vegetable processing plants worth 38.5 billion forints next year will be announced within weeks, Magyar said.

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The programme is expected to bring about an economic growth unseen in the region for several decades, he said.

The government announced launching the Vojvodina economic development scheme with a budget of 50 billion forints in November 2015 which was later increased to 65 billion forints. It provides preferential loans and non-refundable aid with the aim to support the Hungarian community’s survival.

It is carried out in partnership with the Alliance of Vojvodina Hungarians (VMSZ).

Source: MTI

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