EU ends anti-corruption funding curbs on Hungary, freeing €4.2bn
The Council of the EU has ended the 2022 conditionality mechanism imposed on Hungary over corruption risks, releasing €4.2 billion and restoring access to Erasmus+ and Horizon Europe after Péter Magyar’s new government adopted anti-corruption reforms.
The Council of the European Union has lifted the anti-corruption funding restrictions imposed on Hungary, releasing €4.2 billion in funds. This allows the country to rejoin the Erasmus+ student exchange programme and the Horizon Europe research initiative. The EU had imposed these conditions starting in 2022 under the previous government led by Prime Minister Viktor Orbán, which tied access to EU funds to respect for the rule of law.
The move also resulted in the suspension of significant EU funding to Hungary. Following a landslide victory by the centre-right Tisza Party, headed by Péter Magyar, the new government implemented anti-corruption and transparency measures to unlock the funds. Magyar and European Commission President Ursula von der Leyen agreed to release a total of €16.4 billion in exchange for reforms and investment plans.
The €4.2 billion now released, coupled with Hungary's ongoing applications for €10 billion from the EU's post-pandemic recovery funds and €2.2 billion linked to academic freedom, marks a new chapter for both nations. Hungary has reportedly fulfilled all necessary conditions to access the funds, with the European Commission currently evaluating compliance.
If approved, Budapest could receive the money by the end of the year, pending approval in the autumn.
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