RURAL DEVELOPMENT CO-FINANCING 2014-2020 (HU)

The proposed operation will support the implementation of specific, long-term measures identified by Hungary's New Rural Development Programme for the EU programming period 2014-2020. It will focus on improving the competitiveness of the agricultural sector and sustainable rural development by supporting small-scale rural and agricultural investments.

The project will generate economic benefits in terms of employment, rural development and support to small and medium-sized enterprises (SMEs). The project will contribute to EU policy objectives in the fields of climate change, biodiversity protection and soil management. As the schemes are spread out in the country, the project will primarily impact Hungary's development in less-developed regions.

The project is expected to deliver multiple environmental benefits. Certain activities included in the overall project may require an environmental impact assessment (EIA), subject to the decision of the competent authority and in accordance with relevant applicable EU environmental regulations. Where an action may affect a Natura 2000 site, the Bank would require the promoter to follow the procedures of applicable directives, as transposed into national law.

The Bank will require the promoter to ensure that contracts for the implementation of the sub-projects are tendered in accordance with relevant applicable EU procurement legislation, with publication of tender notices in the EU Official Journal, as and where required.