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May 30, 2016

Nine billion HUF invested into Northeast Hungary

Nearly 9 billion HUF allocated for infrastructure investments and economic development programs in northeastern Hungary and Transcarpathia

The Hungarian government has earmarked nearly 9 billion HUF for infrastructure investments and economic development programs in northeastern Hungary and Transcarpathia for this year and the next, it has been reported.

Levente Magyar, state secretary at the Ministry of Foreign Affairs and Trade, said 1.5 billion HUF will be allocated toward the construction of a fruit processing plant in Tarpa in Szabolcs-Szatmár-Bereg county and a bicycle path between the town and Badalovo (Badaló) in Transcarpathia.

Plans are to have the fruit processing plant completed in 2017, Magyar said, adding that the government will soon begin official talks with the Ukrainian government about the construction of the bicycle path.

The government will earmark 2.5 billion HUF in grant money to Transcarpathian small and medium-sized enterprises in 2016 and 5 billion HUF next year, Magyar said.

Apart from the 7.5 billion HUF, a 20 billion HUF credit line will be opened to support the business activities of local SMEs.