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Hungary to dedicate over 50% of EU recovery funds to environmental protection

| 2021-04-23 < 1 min read

Hungary to dedicate over 50% of EU recovery funds to environmental protection

Reading Time: < 1 minutes

The Hungarian government has published a 432-page program with details on 68 investments to be implemented from the EU’s HUF 5.9 trillion recovery program. Interestingly, the government plans to devote 51% of the total sum to environmental protection goals, compared to the mandatory minimum of 37%. It will undertake a 21% rate for digitization, compared to the mandatory 20%. The only area where the government is aiming to use the loans – not only grants – from the fund is also climate-related: i.e. sustainable, green transport goals. According to the government’s calculations, GDP per capita could grow by over 2% by 2026 due to investments financed from the Recovery and Resilience Fund.

In reference to details on the energy modernization program, at a solar energy event secretary of state for the Development of the Circular Economy, Energy and Climate Policy, Attila Steiner,  said that around HUF 100 billion could be used to support household solar panels and energy-saving heating systems in Hungary. This summer, his Ministry of Innovation and Technology will announce a large-scale tender amounting to HUF 100 billion, Steiner said, to encourage the development of complex energy solutions. The ministry estimates that this tender could be a major help in modernizing about 80,000 households.

Source: Portfolio.hu /  Napi.hu