Hungarian gov't to fund SMEs in introducing new technologies

BUDAPEST, Oct. 7 (Xinhua) -- The Hungarian government announced new funding for small and medium-sized enterprises (SMEs) in order to introduce new technologies, Hungarian news agency MTI reported on Monday.

The 5 billion forint (16.5 million U.S. dollars) fund is part of a program called "Road to the future," and SMEs can each apply for between 10 million to 150 million forints of non-repayable funding. But in less developed areas, the eligible amount can get up as high as 200 million forints.

"The program helps the creation of high-value added jobs through supporting capacity expansion and investing in technological improvements," Hungarian Minister of Finance Mihaly Varga told MTI.