The government decided to provide new support to further strengthen the SME sector and increase its competitiveness.
The Hungarian government has cleared HUF 8 billion (EUR 20.6 million) in European Union support for SME development programs managed by the Industrial Development Coordination Agency (IFKA). The funds will be allocated from the GINOP+ programme in the period 2021-2027. The government’s SME strategy foresees three main tasks for IFKA: developing Hungarian suppliers, preparing companies for ESG (environmental, social and governance) improvements and preparing their energy efficiency upgrades.
IFKA implements its tasks in close cooperation with the actors of the domestic economic development ecosystem and has already concluded two strategic cooperation agreements in June 2023 and entered into a partnership with KAVOSZ Zrt. and the National Association of Entrepreneurs and Employers (VOSZ).