European Commission Proposes Unlocking 4.2 Billion Euros for Hungary

The European Commission proposed on Wednesday to unlock 4.2 billion euros in frozen cohesion funding for Hungary and restore the country's access to the Erasmus+ and Horizon Europe programs. The proposal follows an assessment of reforms implemented by the government of Prime Minister Peter Magyar, which the Commission states have addressed previous shortcomings in public procurement, anti-corruption safeguards, conflicts of interest, and prosecutorial effectiveness.

These funds were originally suspended in 2022 due to corruption allegations and rule-of-law concerns tied to the former government of Viktor Orban. European Commission President Ursula von der Leyen noted that Hungary has taken steps to protect the Union's financial interests, stating she is glad the country will once again benefit from the opportunities the Union creates.

The proposal now requires approval from the EU Council to be finalized.