SMEs can apply for 100 billion HUF in development funding

By: Trademagazin editor Date: 2020. 06. 30. 11:31

Small and medium-sized enterprises can apply for 100 billion HUF in development funding: due to more than double oversubscription, the government doubled the 50 billion HUF budget originally announced nationwide for two programs to help companies innovate technologically, said Minister of Finance Varga Mihály in Budapest on Tuesday, at the handover of the first sponsorship contracts of the Competitive Central Hungary Operational Program (VEKOP) tender.

The head of the ministry emphasized that the government’s goal in the new phase of protection against the pandemic is to make Hungary restart the economy as successful as it handled the emergency. He added that the first sponsorship decisions were made with a simplified procedure in the VEKOP tender announced at the end of May. (MTI)