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HUF 2 bln funding program to be launched for SMEs

Minister of Foreign Affairs and Trade Péter Szijjártó announced the launching of a HUF 2 billion SME funding program in a video posted to his Facebook page, according to a report by government website

The minister noted that the new global economic era which is emerging as a result of the coronavirus pandemic holds both challenges and opportunities for countries like Hungary in which exports play a determining role in relation to the performance of the economy.

"For this reason, the government is launching a new funding program for Hungarian small and medium-sized enterprises that are exploiting the new beginning to achieve success on foreign markets," he said.

Applications for up to HUF 50 million per enterprise with relation to foreign brand-building, the preparation of small investment projects, and the development of online distribution channels may be submitted from August 3 this year. Applications for funding within the framework of the program may be submitted via the Hungarian Export Promotion Agency (HEPA) website.