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Govʼt working on next cycle of EU funding allocations

Hungaryʼs government has started creating new and improved resource allocation mechanisms for the 2021-2027 European Union funding cycle, state news wire MTI reported, citing a resolution published in the official gazette Magyar Közlöny.

The government acknowledges in the resolution the necessity of a review of resource allocation mechanisms and the creation of new mechanisms for the 2021-2027 funding cycle. It also agrees on the need to use simplified accounting methods with the aim of reducing the administrative burden.

It instructs the Minister for Innovation and Technology to produce a recommendation on the creation of a system of preferential loans and credit guarantees, taking into account international best practices and working with other ministers in the government responsible for the allocation of EU funding.

It also calls on the ministers in charge of allocating the EU funding to gauge interest in such preferential loans and credit guarantees and to start outlining tenders and projects for the 2021-2027 period based on those results.