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New HUF 7.3 bln support scheme for green economy capacity upgrades

Finance Minister Mihály Varga on Monday announced a tender for HUF 7.3 billion in European Union and state grant money to support green economy capacity developments, state news wire MTI reports.

Companies may apply for grants of between HUF 20 million and HUF 400 mln to acquire new equipment, upgrade technology, or invest in infrastructure or real estate, Varga said.

The grants are available to microbusinesses and SMEs. Applications will be accepted from August 31.

Supporting SMEs is especially important during the coronavirus crisis as it contributes to job creation and can help maintain the competitiveness of Hungaryʼs economy, Varga said.