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Feb 25, 2021

Government increases budget for supporting green SME initiatives

The Hungarian government is increasing the budget for subsidising green investments made by SMEs by HUF 20 billion (EUR 56m) to almost HUF 50 billion.

 

The Hungarian government is increasing the budget for subsidising green investments made by SMEs by HUF 20 billion (EUR 56m) to almost HUF 50 billion.

Mihály Varga, Minister of Finance, said in the previous round of the tender, more than 1,800 companies received nearly HUF 28 billion in development funding, and another 2,000 companies may benefit in the new round.

Subsidies range between HUF 1.6 million and HUF 100 million for projects such as installing a solar system, upgrading heating and thermal insulation, as well as replacing the doors and windows.

Minister Varga said that as part of the government’s action plan to restart the economy, green technologies will enjoy priority. While cutting the costs of firms, the plan also promotes sustainable growth in the Hungarian economy, he added.

Photo credit: koronavirus.gov.hu