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Commission adopts ‘Partnership Agreement’ with Hungary on using EU Structural and Investment Funds for growth and jobs in 2014-2020

Commission adopts ‘Partnership Agreement’ with Hungary on using EU Structural and Investment Funds for growth and jobs in 2014-2020

29/08/2014

The European Commission has adopted a "Partnership Agreement" with Hungary setting down the strategy for the optimal use of European Structural and Investment Funds throughout the country. Today’s agreement paves the way for investing €21.9 billion in total Cohesion Policy funding over 2014-2020 (current prices, including European Territorial Cooperation funding and the allocation for the Youth Employment Initiative).

Hungary also receives €3.45 billion for rural development and €39 million for fisheries and the maritime sector.

The EU investments will help tackle unemployment and boost competitiveness and economic growth through support to innovation, training and education in cities, towns and rural areas. They will also promote entrepreneurship, fight social exclusion and help to develop an environmentally friendly and a resource-efficient economy.

Commenting on the adoption, Commissioner for Regional Policy, Johannes Hahn said: "Today we have adopted a vital, strategic investment plan that sets Hungary on the path to jobs and growth for the next 10 years. This Partnership Agreement reflects the European Commission and Hungary's joint determination to make the most efficient use of EU funding. In line with the reformed Cohesion Policy, the strategic feature of all our investments has to be strengthened, focusing on economic sectors where impact can be maximised, on sustainable growth and investing in people. The paramount aim is also to ensure quality programmes and implementation.”

Commissioner Hahn added: "This investment strategy builds on the important contribution Hungary is already making to help the EU meet its goals of creating sustainable long-term development of all of its less developed regions. Hungary now has a firm base in this Partnership Agreement that covers all Structural and Investment Funds and gives strategic direction to future programmes that will enhance innovation, contribute to transforming Hungary's SMEs to become more competitive and internationally integrated, and boost Hungary's growing reputation in promoting research and technical development projects. The ESI Funds are helping Hungary's regions and cities to face these challenges and support local companies and people in achieving these objectives."

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