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. The main objective of the agricultural investments grant is to support the creation of integrated agricultural industrial units.
The Pro Economica Foundation received a total of 72 applications, of which the selection committee approved 66. The tender evaluation committee gave the green light to 31 applications from Hargita/Harghita County, 18 from Kovászna/Covasna County, and 17 from Maros/Mureș County.
Mónika Kozma, leader of the Pro Economica Foundation, told Hungarian news agency MTI that small- and medium-size enterprises were eligible for the grant. According to the grant rules, the Hungarian state finances 50% of the investment, while the other half must be borne by the applicants either from their own resources or bank loans.
She said the main aim of the tender was to assist Transylvanian agriculture to achieve full vertical integration from production to store shelves. Grants have been awarded to companies that the selection committee deemed sustainable in the long term and economically viable.
The new chapter of the economic development program funded by the Hungarian state was announced in mid-May by Levente Magyar, Minister of State for Parliamentary Affairs in Maros County, during the opening ceremony of the AgroMania agricultural fair.
Title image: Food industry illustration