The EU unblocks over 16 billion euros of frozen funds for Hungary. According to the President of the European Commission Ursula von der Leyen, the country is making "significant progress". Magyar speaks of "historic day for Hungary".
The EU announced that it will unfreeze blocked funds for Hungary in the amount of over 16 billion euros. The money is being unblocked because the country has achieved "significant progress" in a short time - both in the field of investments and in regional financing and the fight against corruption, said the President of the European Commission Ursula von der Leyen in Brussels. But she also called for further steps.
At a joint conference, the new Hungarian Prime Minister Péter Magyar stressed that this was a "historic day for Hungary". His team had "fought for every single euro cent".
Hungary's change of course after Orbán
Specifically, this is 10 billion euros from the Pandemic Recovery Fund in the form of grants and loans on favorable terms. In addition, the Brussels authorities are allocating 4.2 billion euros from the Cohesion Fund, created to reduce economic and social inequalities. Hungary will be provided with another 2.2 billion euros as soon as the government takes further steps.
The new Hungarian government was sworn in about three weeks ago. Magyar has signaled to the EU that Hungary will now act differently. Due to the policies of his predecessor Viktor Orbán, Brussels had frozen EU funds for Hungary totaling around 18 billion euros. The reasons were the undermining of the rule of law, the restriction of the rights of sexual minorities, as well as corruption.