Baby Bonds-- Hungary

Hungary’s Prime Minister announced the creation of a Baby Bonds program which will provide every child born in 2006 and beyond with a tax-free savings bond to be deposited into a special savings account. The initial deposit will be a U.S. equivalent of $185, with additional deposits of $140 given to lower-income children at age 7 and 14. Orphans and other children under state care will receive $56 annually. Parents and others can make additional contributions of up to $555 a year and receive matching grants into the account. The savings can be used for any purpose once the child reaches adulthood.
Hungary Baby Bonds