EU unlocks €16.4 billion for Hungary after reform pledge

The European Commission announced that €16.4 billion of previously blocked EU funds will be released to Hungary following a meeting between Commission President Ursula von der Leyen and new Hungarian Prime Minister Peter Magyar. The disbursement is conditioned on Hungary implementing reforms to combat corruption and strengthen the rule of law. The package includes €10 billion from the Recovery and Resilience Mechanism, €4.2 billion of cohesion funds and €2.2 billion earmarked for academic‑freedom measures. Hungary must submit a revised national recovery plan by 31 August, with the funds to be paid out before the end of the year. "We have agreed on a solid framework to ensure Hungary addresses corruption and the rule of law," von der Leyen said, while Magyar added that the unfreeze fulfills his pre‑election promise.