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Legislation on the financing of the recently announced HUF 100 billion fast restart loan program of 100 billion HUF was published in the Hungarian Gazette on Friday. However, on the basis of this, this will not be a state-subsidized construction, but a loan product created from repayable EU funds, the Portfolio noted.
It is explained that on the basis of Government Decree 75/2021 and Government Resolution 1067/2021, the Government is expanding the annex to Government Decree 272/2014 and Government Decree 1006/2016 with a loan to be granted with a HUF budget amount. 100 billion. Based on the table, it can be seen that the government makes available the interest-free fast restart loan program with EU funds.
They also add that the resource distribution will be coordinated by the Hungarian Development Bank, and the loan will be available at MFB Points, and the program will be managed by Andrea Mager, Minister without Portfolio of National Assets, who will also exercise ownership. rights to MFB.
The portal also writes that to the best of its knowledge and the annex to recent legislation, GINOP-9.1.1.-21 will be the code number of the EU program behind the 10 million corporate quick loan, which means that the EU “Bridging Program to mitigate the effects of the coronavirus” “Will be the source of the internal framework.
Of this amount, € 55 billion will be distributed in Europe in 2021-2022 in order to smoothly distribute the money to mitigate the effects of the crisis in the Member States by increasing the framework for the 2014-2020 cycle programs already in force.
At the beginning of the financial year, Prime Minister Viktor Orbán announced at the opening of the Hungarian Chamber of Commerce and Industry in early February that a new state loan scheme with a ten-year grace period of up to HUF 10 million for three years would come to help SMEs in trouble.
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