The Council of the European Union (EU) has approved the release of 4.2 billion euros (4.7 billion U.S. dollars) in previously frozen EU funds for Hungary, the Hungarian government announced on Tuesday.
The decision followed a September proposal by the European Commission, which acknowledged Hungary’s progress in addressing concerns over corruption, transparency and the protection of EU financial interests.
The funds were originally suspended in December 2022 when the EU froze approximately 6.3 billion euros (7 billion U.S. dollars) in cohesion funding over rule-of-law concerns.
Hungary regains access to 4.2 bln euros in EU funds
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