Hungary Allocates Ft 1.8bn To Repay EU Funds
- 22 Apr 2015 9:00 AM
The government is providing Ft 1.8 billion to 140 local authorities who have been ordered to repay EU funds after the European anti-fraud office OLAF found that the funds had been used illegally. The smallest bailout is Ft 4.2 million and the largest Ft 30 million, mostly concerning construction of playgrounds in 2008-09.
The local authorities must also pay default interest penalties.
OLAF found excess billing and that a foundation acting as a middleman between construction companies and local governments pretended that it was donating money to the local governments on their behalf.
Source: Hungary Around the Clock
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