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New public company to help national development

According to business daily Világgazdaság, the Economy and Transport Ministry authorized the Hungarian Development Bank Rt (MFB) to prepare the establishment of a joint-stock shareholding company with a minimum of Ft 20 billion registered capital and access to Ft 30-50 billion institutional or private funding in order to finance developments in the framework of the second National Development Plan. The company, which will have a foreign majority owner, will become operational by Sept. 30.