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Budapest Bank clients receive Ft 3.3 bln in GVOP grants

Budapest Bank Rt’s corporate clients have received a combined Ft 3.3 billion in grants under the state- and EU-sponsored Economic Competitiveness Operative Program (GVOP) for technological developments last year, the bank announced on Thursday.  

The 263 SME clients were the recipients of 22% of the Ft 15 billion in total funding available under the program. They were chosen from a pool of 1,332 applicants. The most winning applications for the funding are for machinery investments, followed by property investments. SMEs may apply for the Ft 5 billion available under the program in H1 2006 from April 1 to mid-May.


Budapest Bank noted it has disbursed Ft 1.9 billion in loans to its clients under the state-sponsored "For a Successful Hungary" loan program since last September, the fourth largest amount among Hungary's banks.