New Business Funding Tender Offers HUF 450 Billion
The Hungarian government has announced that it will be calling tenders for a substantial amount of funding aimed at supporting businesses. With 450 billion forints (EUR 1.16bn) in European Union and state funding set to be made available from the second quarter, businesses will have the opportunity to apply for support.
The national economy ministry has stated that it is currently in talks with business chambers to finalize the details of the tenders. It has also been revealed that tenders for microbusinesses and SMEs, as part of the Economic Development and Innovation Operative Programme Plus (GINOP Plusz), will be announced in the near future.
The funding, which will predominantly be in the form of credit, with some grants also available, is intended to support investments in digitalization and energy efficiency. This is aimed at helping businesses to maintain and improve their competitiveness in a rapidly evolving market.
The announcement has been welcomed by businesses across the country, who are eager to take advantage of this opportunity for financial support. The ministry’s initiative is seen as a positive step towards providing much-needed assistance to businesses during these challenging times.
It is expected that the tender process will be highly competitive, with many businesses vying for the available funding. However, it is hoped that the support will ultimately benefit a wide range of companies, helping to drive economic growth and recovery in Hungary.
The news comes as part of ongoing efforts to stimulate the economy and support businesses in the wake of the COVID-19 pandemic. With the government’s commitment to providing significant funding, businesses will now have the chance to access the support they need to thrive and succeed in the months and years ahead.
