Hungary unlocks €16.4bn in EU funds after Magyar secures deal with Brussels
Hungarian Prime Minister Péter Magyar reached an agreement with the European Commission to unblock nearly all recovery and cohesion funds that had been frozen under his predecessor, Viktor Orbán.
Published on 29/05/2026 - 15:22 GMT+2
Hungarian Prime Minister Péter Magyar sealed an agreement on Friday with European Commission President Ursula von der Leyen to unblock nearly all recovery and cohesion funds earmarked for Hungary, allowing the government to access the full €16.4bn that had been frozen under the previous administration.
Praising Magyar for forming a government "in record time" and advancing what she described as “long-overdue reforms” within just a few weeks, von der Leyen said €10bn would be released from the bloc’s post-pandemic Recovery and Resilience Facility.
“I think the hard work has really paid off now,” she added.
She also announced the release of €4.2bn in cohesion funds, along with a further €2.2bn from a separate tranche within the same cohesion funding envelope.
Magyar won April’s general election, bringing an end to Orbán’s 16-year rule. The funds had been suspended by Brussels during Orbán’s tenure over concerns related to corruption and the rule of law.
"Three weeks was enough to do what Viktor Orbán could not achieve in three years," Magyar told reporters, adding that "we fought for the full amount."
Hungary must still meet a set of conditions, known as super-milestones, to complete the release.
