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Ministries draw up plan for re-channeling EU development funding

A joint work group of the National Economy Minister and the National Development Ministry is drawing up a strategy for the rechannelling of European Union development funding, National Development Minister Tamás Fellegi told MTI.

As a result, the new Széchenyi Plan, a program supporting investments, could be prepared yet this year, Fellegi said.

The work group is focusing on new development directives that aim to stimulate growth and create jobs, he said. It is reviewing the New Hungary Development Plan, the current framework for paying out EU development funding, and will harmonize it with the new Széchenyi Plan, he added.

In the course of the review, big projects and priority projects will be reviewed, while prestige investments will be filtered out, and the remaining development funding will be put to new aims, Fellegi said. The re-channeling of the funding will not affect the payment of EU funding which has already been decided or the continuation of tenders already called, he added.

The re-channeled funding will go SMEs with the aim of creating more jobs. (MTI-ECONEWS)