EUR 200M Water Development Fund To Be Set Up

  • 30 Aug 2018 8:38 AM
  • Hungary Matters
EUR 200M Water Development Fund To Be Set Up
Hungary is setting up a nearly 200 million euro fund for water management development, President János Áder announced at the World Water Week in Stockholm.

The fund is aimed at aiding the implementation of technological innovations, Áder said in his speech. It will raise efficiency in infrastructure development by cutting the time for executing projects and boosting the return on investments, he said.

Commenting on a report of the UN Water group, Áder backed the body’s call to triple the annual funding for water investment of about 200 million dollars a year. The move would be necessary to stop the looming water crisis, he said.

Áder said a new approach would also be needed “to incorporate the value of water into policy and financial decisions”.

“Prevention is much more important than damage control,” he added. The president said the most water-dependent sector is agriculture and highlighted a Hungarian innovation which improves the water balance of soil, reducing draught damage and pollution.

He noted the Eindhoven biological water purification plant which was built in Dutch-Hungarian cooperation. Its investment and operating costs are about 25-30% smaller than those of an average plant, he said.

MTI Photo: Szigetváry Zsolt

  • How does this content make you feel?

XpatLoop Media Partner

Hungary Matters

Launched in January 2014, this twice-daily newsletter covers 'everything you need to know about what’s going on in Hungary and beyond', according to its publisher the state media agency MTI. Click the title above for more info, and to subscribe.

Explore More Reports

  • Update: Earth Hour 2019 Celebrated In Hungary On 30 March

    Update: Earth Hour 2019 Celebrated In Hungary On 30 March

    • 29 Mar 2019 12:50 PM

    Earth Hour is an annual event, held this year on Saturday evening, 30 March, when millions of people and thousands of business worldwide turn off lights and shut down most electrical appliances to celebrate sustainability and show their support for strategies that will help solve the problem of global warming.

  • Opinion: The Iron Lady’s Business Venture & Orbán Government

    Opinion: The Iron Lady’s Business Venture & Orbán Government

    • 3 Jan 2018 7:58 AM

    Aside from a post I wrote about the World Aquatic Championships held past summer in Budapest, I haven’t paid much attention to the affairs of the Hungarian Swimming Association, which for a while was in total turmoil due to the revolt of the swimmers, led by Katinka Hosszú, the star of Hungarian swimming. That revolt ended with a victory for Hosszú, who managed to get rid of Tamás Gyárfás, the long-serving president of the Association.