The government expects to pay out HUF 90 billion-100 billion in advance payments on EU development grants by the end of March or the beginning of April, National Development and Economy Minister Gordon Bajnai told Parliament's European Affairs Committee.
The government raised the proportion of the advance payment to 40% of the development grant, Bajnai said. He noted that the government earlier decided to reshuffle EU development funding to make HUF 260 billion available to businesses to ease the effects of the financial and economic crisis.
So far, 8,730 applicants have won a combined HUF 1,913 billion in development funding available under the New Hungary Development Plan, Hungary's framework for paying out the funding during the 2007-2013 EU budget period, Bajnai said. (MTI – Econews)