Lack of monitoring helps offshore owned companies win EU funds

Offshore-owned companies can easily win EU tenders due to the lack of monitoring on the state side. Hungarian Development Agency does not investigate the applicants’ background and the Agency’s website does not provide easy searching options to check all the winner entries of a selected company. The complex data that the user should provide for the online search led to a situation which makes it difficult to count how successful a company was in tender procedures. Due to the state’s lack of information and the difficulties of transparency it may not be surprising that only a few cases about EU fund winning, offshore-owned companies were revealed in the past years.

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