EU eager to send frozen funding to post-Orban Hungary

Following weekend talks, the European Commission has agreed to work with Hungary's incoming Tisza Party government to release frozen European Union funds earmarked for the country.

EU officials were in Budapest on Friday, hoping to fast-track cooperation and work toward unblocking billions in funding before prime minister-elect Peter Magyar takes office next month.

Magyar won a landslide victory in Hungary's general election on April 12, ending Prime Minister Viktor Orban's 16‑year rule.

One of Magyar's campaign pledges was to rebuild Hungary's ties with the EU and free-up billions of euros of funds that were frozen over rule‑of‑law and corruption concerns. Of the 27 billion euros ($31 billion) earmarked for Hungary, 17 billion remain blocked.

The commission sent a high‑level delegation, led by Bjorn Seibert, chief of staff to European Commission President Ursula von der Leyen, to the Hungarian capital for two days of informal talks with Hungary's incoming government.

"There is full agreement on one point: real work must begin to ensure that the EU funds due to the Hungarian people finally arrive in Hungary," Magyar said after the talks.

The meetings marked the first informal contact between Brussels and Hungary's incoming government, since the election.

"The meetings were an early opportunity for practical discussions on how to move forward and make real progress to unlock EU funds earmarked for Hungary that are frozen due to corruption and rule of law concerns. This necessary work will continue," the European Commission said in a statement.

Hungary is also looking to access 17 billion euros from the EU's joint defense borrowing tool, SAFE, to modernize its defense sector, reported Euronews.

If both allocations arrive in the coming years, 34 billion euros in total, the economic impact would be substantial.

"The clock is ticking for a number of topics," European Commission spokesperson Paula Pinho said in Brussels on Thursday. Officials want to ensure that "once the government is in place, action can be taken" without delay, she said.

"It is in the interest of Hungary, it is in the interests of the EU, that we make progress as soon as possible," she added.

Von der Leyen last week urged swift action to "restore the rule of law, realign with shared European values, and reform" Hungary's policies.

Magyar has vowed to put judicial independence, academic and media freedom, and anti‑corruption reforms at the top of his agenda to unlock the funds.

"Hungary is in a very difficult financial situation," Magyar said last week, adding that his government's task would be "to bring home the money that is hers".

jonathan@mail.chinadailyuk.com