The European Union will release over 16 billion euros to Hungary from the European funds that have been blocked so far. This was announced on Friday by the new Hungarian Prime Minister Péter Magyar and the President of the European Commission (EC), Ursula von der Leyen, after a meeting in Brussels, who highlighted the progress in reforms since the new Hungarian government took office. This is reported by TASR according to the AFP and Reuters agencies.
“We are already feeling the wind of change throughout Hungary,” von der Leyen told Magyar after the negotiations. According to her, the EU is ready to release ten billion euros from the recovery fund and also 4.2 billion euros from the cohesion funds, while Budapest will receive another 2.2 billion euros from the cohesion funds upon fulfillment of other agreed steps.
Protection of European funds
The head of the EC also pointed out that Hungary is in dire need of structural reforms and that a “robust architecture” has been agreed with Brussels to ensure a solution to corruption. It also agreed to the protection of European funds in the future and also reached an agreement on investment projects. Hungarian students will also be able to participate in the Erasmus program again.
Magyar spoke of a “historic breakthrough”, saying that his government is ready to continue working with the European Commission, with which it has agreed on all the steps necessary to unblock the finances. He described the negotiations as difficult and, according to him, his cabinet fought for every euro cent. According to him, the agreement covers a total of 16.4 billion euros, of which Hungary will be able to invest, for example, 1.5 billion in the development of the distribution network and two billion in railways.
Without connection with Ukraine
He also emphasized that his cabinet’s fight against corruption is paying off. According to his own words, he realizes that Budapest still has a lot of tasks ahead of him that he has to fulfill. He also stated that the release of European funds is in no way connected with Ukraine’s accession process.
The aim of the intensive talks, which began even before the establishment of the new Hungarian government of the Tisza party, is to harmonize mutual expectations and the technical possibilities of drawing financial resources, the server portfolio.hu recalled.
The European Commission previously suspended the payment of Eurofunds to Hungary in the amount of approximately 17 billion euros due to concerns about non-compliance with the principles of the rule of law under the government of former Prime Minister Viktor Orbán, who was replaced by Péter Magyar after the April elections.
