The President of the European Commission, Ursula von der Leyen, announced this Friday the release of approximately 16.4 billion euros in cohesion and recovery funds intended for Hungary, which had been blocked due to the anti-democratic drift of the previous Executive led by Viktor Orbán.
"Only a few weeks have passed, but we can already feel a strong air of change throughout Hungary," stated Von der Leyen at a press conference in Brussels, where she was accompanied by the new Hungarian Prime Minister, Péter Magyar. The Hungarian leader described the agreement as "very important" for his country and assured that he will collaborate with the Union "in the interest of the Hungarian people and European citizens."
The head of the Community Executive emphasized the scope of the political commitment sealed with the new Government of Budapest, which establishes the basis for significant reforms in essential areas to safeguard the rule of law and ensure the correct use of European resources, with special attention to the fight against corruption.
"We have agreed on a solid and secure foundation. Therefore, subject to the reforms being adopted and the investments being implemented, I am pleased to announce that we can unlock 10 billion euros for Hungary," indicated Von der Leyen, referring to the resources linked to the national recovery plan, which according to Community regulations must be executed before the end of August so that Budapest does not lose this financial support.
Furthermore, Von der Leyen announced that other frozen funds will be reactivated: in particular, 4.2 billion euros in cohesion funds frozen by the conditionality mechanism that halts payments when there is considered to be a risk to the rule of law, as well as another 2.2 billion euros associated with regulatory changes aimed at restoring fundamental rights, including academic freedom.