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Approved EU funding increases over 50%

The European Union has approved HUF 2,790 billion (€10.52 billion) in funding so far for projects to be completed through the New Hungary Development Plan, compared to HUF 1,800 billion as of December 31, 2008, Minister of National Development and Economy István Varga told the business daily Világgazdaság.

Varga noted that the EU had paid HUF 407 billion in post-financing tender support to bidders in Hungary through July 27, compared to a mid-year target of HUF 374 billion.

Hungary has access to HUF 7,000 billion in EU funding through the New Hungary Development Plan in the 2007-2013 financing cycle. (MTI-ECONEWS)