Awarding of EU funds in current cycle almost complete

Telco

Jessica Fejos

Only 8% of European Union funds available to Hungary for the 2014-2020 funding period, or just HUF 708 billion, remains to be awarded, business daily Világgazdaság reported on Tuesday, citing the Prime Ministerʼs Office.

Hungaryʼs government earlier decided to front-load the EU funding allocation to avoid a back-up at the end of the cycle, noted the report, cited by state news wire MTI. So far, 49% of the funding, or some HUF 4,365 bln, has been paid out to grant winners. The rest is expected to be awarded this spring, and to be paid out fully in 2019.

Some 154,400 parties have applied for HUF 12,476 bln in EU funding from the cycle. A little more than 81% of those applications have been approved.

Hungary is calling for applications for 105% of its EU funding allocation to avoid losing any money for the handful of projects that will inevitably be shelved for various reasons, Világgazdaság noted.  

Of the EU funding that has so far been paid out, HUF 1,095 bln has gone to economic development projects, HUF 889 bln to transport developments, HUF 735 bln to community projects, and HUF 721 bln to energy efficiency programs.

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