Switzerland fuels Hungarian development with Ft 20 bln
Summer of 2008 is the beginning of tendering development assistance provided by an override agreement between Hungary and Switzerland.
Switzerland has made a commitment to provide 1 billion Swiss francs (about $865.7 million) in developmental assistance to countries joining the EU in 2004. 130,7 million Swiss francs (Ft 19,7 billion, $113 million) is allocated to Hungary. According to the agreement, at least 40% of the fund will be spent in the most underdeveloped regions of the country. The chosen projects have to be approved by the Swiss partner. Each individual project must be at least 1 million Swiss francs in value (Ft 155 million-worth). (Napi Gazdaság)
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.