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May 20, 2019

Hungary launches next phase of Transylvanian Economic Development Program

Hunor Kelemen, the head of Romania’s ethnic Hungarian RMDSZ party, said the Hungarian economic development program is creating jobs, boosting farmers’ competitiveness and paving the way to markets

Secretary of state Levente Magyar launched the next phase of the Transylvanian Economic Development Program, a scheme financed by Hungary, in Dumbravioara (Sáromberke), Romania, on Saturday.

According to MTI, investments of some 300 million euros could be implemented in the framework of the program in the coming two years, including state subsidies, self-financing and credit.

Magyar revealed that up to 15,000 euros in grant money will be made available to farmers to purchase livestock, plant crops or acquire machinery.

The program is coupled with another, launched at the end of last year, that is supporting the construction of several dozen farm sector processing plants in the region.

Hunor Kelemen, the head of Romania’s ethnic Hungarian RMDSZ party, said the Hungarian economic development program is creating jobs, boosting farmers’ competitiveness and paving the way to markets.

Photo credit: 24.hu