Varga announces tender for HUF 100 bln in SME funding

Government

Finance Minister Mihály Varga announced a tender for HUF 100 billion in European Union and state funding to support technology upgrades, productivity, and competitiveness at SMEs in a video message posted on Facebook on Monday, according to a report by state news wire MTI.

SMEs may apply for funding of between HUF 10 million and HUF 200 million to buy new equipment, make IT developments, acquire real estate and make the switch to renewable energy, Varga said.

He added that most of the funding, expected to be enough for "several thousand businesses", will go to underdeveloped regions.

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