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Hungary to initiate reallocation of EU development funding

Hungary will initiate a reallocation of the country’s 2007-2013 European Union development support in order to accelerate access to the funding and to reduce the risk of losing funding, the National Development Agency told MTI on Friday.

The agency said that Hungary would likely submit the initiative to the European Commission later this month.

The reallocation would affect HUF 282bn in development funding-HUF 164bn among operative programmes and HUF 118bn within operative programmes.