Gov't awards HUF 23 bln to companies hit by Brexit 

Government

The government has awarded HUF 23 billion to 63 Hungarian companies in a second tender to support businesses that have been hurt by the departure of the U.K. from the European Union, Minister of Foreign Affairs and Trade Péter Szijjártó said on Monday.

Szijjártó awarded grant money available in the framework of the scheme to home textile maker Rovitex Homedeco.

In the tender called in January, companies hit by Brexit could apply for up to HUF 2 bln in funding to purchase equipment, make infrastructure or real estate developments, acquire production licenses or know-how, make IT upgrades or improve energy efficiency.

Szijjártó noted that the government is pre-financing monies that will arrive from the EU's Brexit Adjustment Reserve in 2022-2025. 

In the scheme's first tender, 37 companies were awarded a combined HUF 10.2 bln in grants to support HUF 19 bln of investments.

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