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.

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