European Union releases 4.2 billion euros in frozen funds to Hungary

The European Union has approved the release of 4.2 billion euros in previously frozen funds to Hungary following anti-corruption reforms implemented by the new government. EU member states reached this decision during a meeting in Luxembourg, approving a proposal from the European Commission.

The funds were originally withheld due to violations of the rule of law and EU fundamental values under the previous administration of Viktor Orban. Following a political shift led by Prime Minister Peter Magyar, who took office in May, the European Commission noted significant progress in restoring the rule of law, increasing transparency in public procurement, and improving controls over the use of EU funds. Hungary has also joined the European Public Prosecutor's Office.

In addition to structural funding for economically disadvantaged regions, the decision restores access for Hungarian universities to the Erasmus exchange program and allows researchers to participate in the Horizon Europe research and innovation program.