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Easier access but stricter checks for companies awarded EU support

Simplified procedures will give Hungarian companies easier access to European Union funding, but follow-up checks on how the money is spent are becoming stricter, business daily Világgazdaság reported.

MAG, a state-owned company established to help businesses access European Union funding, has launched a Project Partner System under which it assigns an individual "guardian angel" to assist companies applying for EU funding, MAG chief Gyula Barta said at a conference organised by the Joint Venture Association and OTP Bank. These guardian angels "take care of everything", he added.

At the same time, Barta confirmed that checks on how the funding is spent are becoming more stringent. "We are going to check different things in a different way," he said.

MAG is setting up a team of 23 staff that will review the 20,000 applications and funded projects coordinated by the company, checking smaller projects at least once and bigger projects several times to ensure the monies are well spent, Barta said.