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900 Million Euros Coming as EU “Finally Allowing Hungary to Access Funds”

• 24 Nov 2023 8:02 AM
• Hungary Matters

The European Council has decided to release 900 million euros from the Recovery and Resilience Facility to finance projects approved in the RePowerEU chapter which aims to ensure affordable, secure and sustainable energy supplies.

The Council noted the disbursement under the RRF was possible pending Hungary satisfactorily implementing 27 “super milestones” set by the European Commission to ensure the protection of the EU’s financial interests and to strengthen judicial independence.

Hungary’s REPowerEU chapter includes measures to strengthen and modernise the electricity sector, accelerate deployment and use of renewable energy, improve energy efficiency, promote sustainable transport, upskill and reskill the workforce for the green transition, decarbonise industry and invest in green technologies and value chains linked to the green transition, the EC said.

Tibor Navracsics, the regional development minister, told MTI the allocation of EU funds to Hungary had begun, adding that “talks will continue”.

The minister welcomed the news that the EU was “finally allowing Hungary to access funds”. “We will of course continue talks since our goal is to ensure that Hungary receives the entire amount of the funding it is entitled to as soon as possible.”

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