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Jan 02, 2019

Modern Cities scheme provided Hungarian cities with more than 150 billion HUF in 2018

The program is scheduled to be completed in 2025, by which time the total used for development, including European Union funds, may reach 3,750 billion HUF

The government’s Modern Cities scheme provided Hungarian cities with county status more than 150 billion HUF (EUR 465m) for development projects in 2018, it has been revealed.

The government granted its approval to 14 projects worth 37 billion HUF on December 28th and the funds will be paid out to recipients this week, the PM’s Office said in a statement.

“Modern Cities is Hungary’s largest development program outside Budapest, under which cities with county status have received nearly 1,000 billion forints,” the statement said, adding that two-thirds of the funds had been paid from central coffers.

The program is scheduled to be completed in 2025, by which time the total used for development, including European Union funds, may reach 3,750 billion HUF, the statement added.