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EcoMin reaches agreement on faster, simpler funding payouts

  Hungarian Economy and Development Minister Gordon Bajnai said he reached an agreement on how to speed up and simplify payments of more EU development funding to companies at a meeting with EU Commissioner for Regional Policy Danuta Hubner in Brussels on Monday.

Thanks to the agreement, new loan constructions could be introduced within days, Bajnai said. The economy and development minister said that the payment of advances to winning tenders has been accelerated through the agreement, noting that the Hungarian economy will have access to more than HUF 100 billion in advances over the next three months as a result of the measure.

Bajnai remarked that Hungary has 14 proposed major investments awaiting EU approval, adding that these investments could help to animate the Hungarian construction industry after two poor years. (MTI-Econews)