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MNI POLICY: EC To Approve Hungary NGEU Plan, Keep Funds Frozen

(MNI) Brussels

The European Commission is set to approve aid for Hungary but recommend keeping a cohesion fund freeze.

The European Commission is expected to approve Hungary’s EUR5.8 billion NextGenerationEU plan Wednesday but also maintain its proposal to European leaders to freeze EUR7.5 billion of the country’s cohesion funds, MNI understands.

The plan contains 27 milestones, the highest in any NGEU plan, all of which Hungary will need to meet before it can request funding under the plan.

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The European Commission is expected to approve Hungary’s EUR5.8 billion NextGenerationEU plan Wednesday but also maintain its proposal to European leaders to freeze EUR7.5 billion of the country’s cohesion funds, MNI understands.

The plan contains 27 milestones, the highest in any NGEU plan, all of which Hungary will need to meet before it can request funding under the plan.

Keep reading...Show less