Keeping its promise made in the spring, the Government has reallocated the funds to provide HUF 1.63 billion up to the end of the year for the residential communities whose applications were evaluated in the spring.

As the support budget was not fixed in advance and the tender was closed late,,the funds required for the applications submitted in 2009 for the GIS Panel Sub-program exceeded the available resources by approximately HUF 14 billion during the term of the previous government.

After the Green Investment Scheme was taken over by the Ministry of National Development in January 2011, intensive work started to evaluate the received applications and to accelerate the implementation of projects. 228 applications of the 2nd phase of the GIS Panel Sub-program, were granted support on 7 April 2011. With this, altogether 244 applications have been granted support of HUF 13.2 billion by the Minister for National Development. This amount is sufficient for the energy-related modernisation of 23,495 residential units, which will in turn generate investment of a value of approximately HUF 28 billion in this sector.

According to the Government’s decision, the residential communities that had submitted applications for the sub-program announced by the previous government without financial coverage were not rejected if they complied with the formal and content requirements. Pursuant to the government decision, the adoption of grant decisions and contracting may be continued to the debit of the amounts released within the Green Investment Scheme and the revenues earned from additional emission sales. Taking into account the currently available HUF 1.63 billion, the preparation for decision-making on the applications accepted under the 2nd phase of the GIS Panel Sub-program has started and the affected parties may receive notices already in November this year. The provision of resources will allow the renovation of yet another 3,200 residential units and ensure more comfortable living conditions for nearly 8,000 persons. The grants will generate HUF 3.3 billion in the sector and save nearly 4.068 tons of carbon dioxide emissions per annum. Further contracting can only be made if and when new revenues are earned.

(Ministry of National Development, Communication Department)