The Hungarian Investment and Trade Development Agency (ITD Hungary) presented a development program that aims to transform the area around Záhony, near Hungary's border with Ukraine, into a logistics hub for trade between east and west to economic attaches at embassies in Budapest on Thursday.
Some HUF 37.5 billion in European Union and state development funding is available for the Záhony project in 2007-2013, said National Development Agency deputy head Timea Paszternák. €75.3 million is being spent on railway structure, €29 million on road infrastructure and €16.54 million on an intermodal centre and €9.2 million for SME support. Applications for additional funding can be made under cross-border cooperation programs, she added.
The project affects 16 communities in the region. (MTI-ECONEWS)