Hungary Clears Hurdle for €10 Billion EU Funds After Ecofin Approval
The EU's Economic and Financial Affairs Council approved Hungary’s revised recovery and resilience plan, unlocking approximately €10 billion in grants and concessional loans.
The European Union's Economic and Financial Affairs Council (Ecofin) has approved Hungary’s revised recovery and resilience plan, a decision that opens the door to roughly €10 billion in EU funds. The package consists of grants and concessional loans intended to support the country's post-pandemic economic recovery.
This approval marks a significant step for Hungary, which had seen its access to EU funding delayed over rule-of-law concerns. The revised plan addresses some of those issues, allowing the disbursement process to move forward.
Source: FXStreet Forex News