The European Commission on Wednesday said it approved a 280 million euro Hungarian investment scheme to support a sustainable recovery of the tourism sector.
Under the scheme, companies in commercial accommodations, catering, recreation and other tourism-related businesses may apply for grants up to 2.8 million euros to support investments. It is expected to benefit around 1,000 companies in the tourism sector which has been hit hard by the coronavirus crisis. The EC concluded that the scheme is “necessary, appropriate and proportionate to facilitate the development of certain economic activities, which are of importance for a sustainable recovery of the economy”.
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