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Jul 12, 2019

Hungary to support 66 Transylvanian enterprises

Hungary will support 66 Transylvanian food processing companies to the tune of HUF 24 billion.

Hungary will support 66 Transylvanian food processing companies to the tune of HUF 24 billion (EUR 73.7 million), the Pro Economica Foundation announced on Thursday.

According to Rmx.news, the tender received a total of 72 applications, of which the selection committee approved 66, of which 31 from Hargita county, 18 from Kovászna and 17 from Maros (all in the Tranyslvanian region of neighboring Romania, with a sizeable Hungarian minority).

Mónika Kozma, leader of the Pro Economica Foundation told MTI that small- and medium-size enterprises were eligible for the grant, with Hungarian state financing available for 50 percent of the investment, while the other half must be borne by the applicants either from their own resources or bank loans.

Kozma said the main aim of the tender was to assist Transylvanian agriculture in achieving full vertical integration from production to the store shelves. Grants had been awarded to companies which the selection committee deemed sustainable in the long-term and economically viable.

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