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Government allocates HUF 2 bln for economic development in Transcarpathia

Telco

The Hungarian government has allocated HUF 2 billion in grant money this year to achieve economic development goals in Transcarpathia, a region in the west of Ukraine with a large ethnic Hungarian population, a resolution published in the official gazette Magyar Közlöny shows, according to Hungarian news agency MTI.

Grant money for the years 2017 and 2018 will be allocated at a later date, however, operating expenditures related to achieving the goals is limited to HUF 150 million this year and HUF 200 mln in both 2017 and 2018. 

The government is supporting a capital raise at Magyar Eximbank to ensure a HUF 20 bln preferential credit line to businesses in the region, according to the resolution.

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