Billions were invested into the meat factory in Pápa

It seems that the government and the local government of Pápa invested billions of forints of public money to rescue the local meat plant in vain. The company was unable to climb out of its unsustainable situation.

The state in the last six years – through various channels – invested a total of almost 11 billion HUF into the company. However, the partial recovery of this amount is highly doubtful, on the basis of the current performance. The company’s the largest creditor the Hungarian Development Bank (MFB) gave nearly 5 billion HUF loans in 2008, in order to save the company from collapse. (hvg.hu, Máriás Leonárd)