The European Commission has proposed releasing €4.2 billion in EU cohesion funds to Hungary, citing steps taken by the country’s new government to strengthen the rule of law and protect EU financial interests. The proposal still requires formal adoption by EU member states in the Council.
The proposed release forms part of €16.4 billion in frozen recovery and cohesion funding that the EU said in May it would unblock as Hungary worked to implement reforms. The Commission also said it would reopen the Erasmus+ and Horizon Europe programmes to Hungarian students and researchers.
The decision marks a further step in the EU’s reassessment of funding restrictions on Hungary, but the €4.2 billion has not yet been released. Member states must first approve the Commission’s proposal.
